VCIG boosts Alumni Capital share capacity after 1-for-30 reverse split

Rhea-AI Filing Summary

VCI Global Ltd is registering up to 50,000,000 ordinary shares for issuance to Alumni Capital LP under an existing Securities Purchase Agreement involving convertible notes and warrants. The company recently approved a 1-for-30 reverse stock split, effective September 16, 2025, which reduced the prior amount of shares issuable under this arrangement from 69,875,000 pre-split shares to 2,329,167 post-split shares.

This prospectus supplement amends the earlier August 13, 2025 convertible note prospectus to reflect the higher share amount now issuable upon conversion and exercise. Alumni Capital is treated as an underwriter under U.S. securities law, and there is no assurance all of these registered shares will ultimately be issued or sold. VCI Global’s ordinary shares trade on Nasdaq under the symbol VCIG, with a last reported price of $1.22 on November 19, 2025.

Insights

Capital markets and dilution analyst

VCI Global greatly increases shares issuable under its Alumni Capital financing.

VCI Global is amending its existing Alumni Capital financing to allow issuance of up to 50,000,000 ordinary shares upon conversion of notes and exercise of warrants. This replaces the prior post‑split cap of 2,329,167 shares referenced in the amended prospectus, following a 1‑for‑30 reverse stock split effective on September 16, 2025.

The change significantly expands the number of shares that can be issued under this agreement, which can affect ownership percentages once the instruments are converted or exercised. Alumni Capital is identified as an underwriter under Section 2(a)(11) of the Securities Act, and the language notes there is no guarantee that all registered shares will be issued or sold, so actual impact will depend on how much of the facility is used.

As of November 19, 2025, VCIG shares last traded at $1.22 on Nasdaq, providing a reference point for the market value of the securities tied to this registration. Future company disclosures can clarify how much of the potential 50,000,000 shares are ultimately issued under this structure.

Filed Pursuant to Rule 424(b)(5)

Registration Statement No. 333-279521

Prospectus Supplement

(To Prospectus dated May 28, 2024)

 

50,000,000

Ordinary Shares

This prospectus supplement (the “Prospectus Supplement”) amends and supplements the prospectus supplement dated August 13, 2025 (the “Convertible Note Prospectus Supplement”) relating to the issuance of ordinary shares of VCI Global Ltd (“we,” “us,” “our,” or the “Company”), no par value per share (the “Shares”), to Alumni Capital LP (“Alumni Capital”) pursuant to the Securities Purchase Agreement, dated August 13, 2025, by and between us and Alumni (“Securities Purchase Agreement”).

On September 12, 2025, the Company announced that its board of directors has approved a reverse stock split of its ordinary share at a ratio of 1-for-30, effective at 12:01 a.m. Eastern Time on September 16, 2025, which proportionally reduced the Shares from 69,875,000 ordinary shares to 2,329,167 ordinary shares on a post-split basis.

We are filing the Prospectus Supplement to amend the Convertible Note Prospectus to increase the amount of Shares issuable to Alumni Capital under the Convertible Note Prospectus from 2,329,167 ordinary shares to 50,000,000 ordinary shares upon conversion of convertible notes and the exercise warrants issued pursuant to the Securities Purchase Agreement.

Alumni Capital is an underwriter within the meaning of Section 2(a)(11) of the U.S. Securities Act of 1933, as amended (the “Securities Act”). The registration of the Offered Shares hereunder does not mean that Alumni Capital will actually purchase or that the Company will actually issue and sell all or any of the Offered Shares being registered pursuant to the registration statement related to this prospectus supplement.

You should read this prospectus supplement, the base prospectus, and any additional prospectus supplement or amendment carefully before you invest in our securities.

Our ordinary shares are listed on the Nasdaq Capital Market (“Nasdaq”) under the symbols “VCIG.” On November 19, 2025, the last reported sale price of our ordinary shares on Nasdaq was $1.22 per share.

Investing in our securities involves a high degree of risk. See “Risk Factors” section beginning on page S-8.

We are an “emerging growth company,” as that term is defined under the federal securities laws and, as such, we have elected to comply with certain reduced public company reporting requirements and may elect to do so in future filings.

Neither the SEC nor any state securities commission has approved or disapproved of these securities or determined if this prospectus supplement is truthful or complete. Any representation to the contrary is a criminal offense.

The date of this prospectus supplement is November 20, 2025.

FAQ

How many VCI Global (VCIG) shares are being registered in this prospectus supplement?

The prospectus supplement registers up to 50,000,000 ordinary shares of VCI Global Ltd for issuance to Alumni Capital LP upon conversion of convertible notes and exercise of warrants under the Securities Purchase Agreement.

What change is VCI Global making to the Alumni Capital share issuance cap?

VCI Global is amending its prior convertible note prospectus to increase the amount of shares issuable to Alumni Capital from 2,329,167 ordinary shares on a post‑split basis to 50,000,000 ordinary shares.

How does the 1-for-30 reverse stock split affect VCI Global (VCIG) shares in this deal?

A 1‑for‑30 reverse stock split effective September 16, 2025 proportionally reduced the shares referenced in the Alumni Capital arrangement from 69,875,000 ordinary shares pre‑split to 2,329,167 ordinary shares post‑split, before the cap was raised to 50,000,000 shares in this supplement.

Who is Alumni Capital in the VCI Global prospectus supplement?

Alumni Capital LP is the investor under the Securities Purchase Agreement and is identified as an underwriter within the meaning of Section 2(a)(11) of the Securities Act for the shares registered in this prospectus supplement.

Will VCI Global definitely issue all 50,000,000 registered shares to Alumni Capital?

No. The prospectus supplement states that registering the Offered Shares does not mean Alumni Capital will actually purchase, or the company will actually issue and sell, all or any of the registered shares.

On which exchange does VCI Global (VCIG) trade and what was the recent price?

VCI Global’s ordinary shares trade on the Nasdaq Capital Market under the symbol VCIG. The last reported sale price was $1.22 per share on November 19, 2025.

What type of company is VCI Global for U.S. reporting purposes?

VCI Global is classified as an emerging growth company under U.S. federal securities laws and has elected to follow certain reduced public company reporting requirements.