A listed London-based company once backed by David Beckham has announced its intention to delist from the London Stock Exchange and float on the Aquis Stock Exchange (AQSE) Growth Market.
Cel AI, an AI agent deployment platform with a strategic Bitcoin treasury focus, is expected to be admitted to the AQSE and has cited the move as a necessity as it continues on its Bitcoin strategy.
At the end of June, the firm raised £10m to buy Bitcoin and has undergone huge pivots in the past.
Originally focused on cannabinoid products, the firm floated as Cellular Goods in 2021 to great fanfare, with England and Manchester United legend Beckham subscribing for a 5 per cent stake through his investment vehicle DB Ventures.
Beckham would later sell his stake in the firm, while it saw its CBD-infused food supplements withdrawn from shop shelves due to regulatory issues.
It then rebranded as Cel AI and focused on providing tailored beauty advice and product recommendations via a chat interface, as well as skincare and wellness products after the rise of generative AI.
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The business recently appointed Elliot Fielding – a former director of AQSE-listed Flex Labs – as its CFO amid wholesale executive changes and it has also announced its intention to acquire more Bitcoin following its anticipated September admission.
“Our proposed move to the Aquis Stock Exchange Growth Market marks a pivotal step for Cel AI,” said Olivia Edwards, executive chair of Cel AI.
“By shifting our listing, we unlock the flexibility needed to execute our Bitcoin treasury strategy aggressively -an essential component of our long-term vision.
“This transition ensures we can fully pursue our strategic goals without the constraints of the current listing framework, strengthening both our balance sheet resilience and our ability to create lasting shareholder value.”
When it initially floated, Cel AI (then Cellular Goods) had a share price of 19p. This has since tanked and it currently sits at 0.14p.
This is, however, an increase on the 0.08p it stood at in January.
The firm has a market cap of £8.07m and a year-high share price of 0.86p.