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Tiger Alpha PLC on Tuesday said it had conditionally raised £1.6 million, subject to approval of a planned share split . The London-based investor in ‘utility’ meme coins also noted it had sold ‘substantially all its legacy resource investments, realising proceeds of some £175,000. ‘This disposal marks a further step in simplifying the company’s investment portfolio and aligning it with its current focus,’ the company said. Tiger Alpha, formerly known as Tiger Royalties & Investments, operates in the cryptocurrency sector, though the company’s website says it is focused on ‘real-world’ applications. Its shares rose 25% to 0.53 pence on Tuesday afternoon in London. The stock is down 61% in the last 12 months. The company has proposed a £1.6 million placing, priced at 0.375 pence per share, which is below each share’s current nominal value of one penny. As a result, Tiger Alpha has proposed to reduce the nominal value to one tenth of a penny. It plans to split each existing share of £0.01 into one ordinary share of £0.001 and one ‘deferred’ share of £0.009. The deferred shares will carry neither dividends nor voting rights, nor will they be admitted to trading. When it comes to capital returns, holders of deferred shares have ‘the right only to receive the amount paid up thereon after the holders of ordinary shares in the capital of the company have received the aggregate amount paid up thereon plus £1 million per share,’ Tiger Alpha added. This subdivision scheme requires shareholder approval at a general meeting, of which Tiger Alpha plans to confirm the date ‘shortly’. Fortified Securities, a trading division of RiverFort Global Capital Ltd, will receive 23.2 broker warrants, exercisable at the placing price with a term of 48 months. Also on Tuesday, Tiger Alpha was optimistic about its ‘AI-focused investments’. Back in June, the company paid $25,000 for a second subnet on the Bittensor blockchain network. A subnet is a type of crypto trading infrastructure which issues its own tokens. A few days prior to this, the London-based developer of the Bittensor network, TAO Alpha PLC, had announced a £5 million fundraising deal and a new digital asset treasury, to be overseen by its Singaporean subsidiary TAO Alpha PTE Ltd. TAO Alpha shares had increased more than fourfold the day of the announcement, prompting a statement from TAO that it had ‘no reason to believe there [were] any leaks’. Operating on Bittensor means ‘dual-revenue potential’ for Tiger Alpha, it said, as the company earns TAO block rewards plus a share of Tiger Alpha fees. Tiger Alpha Chair Jonathon Bixby, who is also a director of Phoenix Digital Assets PLC, has likened buying a subnet to ‘purchasing a building on Fifth Avenue before Manhattan was built up.’ The fundraise announced on Tuesday provides ‘the resources to continue executing on [Tiger Alpha’s] strategy,’ he added. As of Tuesday, the Tiger Beta subnet had roughly $200,000 of alpha tokens under management and was generating 26 TAO tokens per day. The KDN-1 subnet has accumulated $280,000 of alpha tokens and is generating 25 TAO daily, Tiger Alpha said. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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