VCI Global boosts capital terms, unveils QuantGold privacy-AI venture

Rhea-AI Filing Summary

VCI Global Limited (NASDAQ: VCIG) has filed a Form 6-K outlining two material developments.

1. Modification of Equity Purchase Agreement: On 21 May 2025 the company amended its August 2024 Share Purchase Agreement with Alumni Capital LP. The purchase price for future share sales to Alumni Capital rises from 85% to 102% of the lowest traded price during the five business days preceding each sale, materially improving per-share proceeds and reducing relative dilution. In addition, Alumni Capital is now entitled to exercise up to US$5 million of commitment warrants on a cashless basis, a provision that could increase the outstanding share count without an accompanying cash inflow.

2. Acquisition / Launch of QuantGold Data Platform: Via a 24 June 2025 press release (Exhibit 99.2), VCIG announced the official launch of the QuantGold Data Platform, described as a “sovereign-grade” AI infrastructure that permits computation on sensitive data sets while preserving data ownership and privacy. VCIG will own a 20 % equity stake and will contribute its existing cybersecurity, AI-GPU and data-infrastructure businesses to the venture, signalling a strategic push into privacy-centric AI solutions.

No financial terms, revenue projections or closing conditions were disclosed for QuantGold, and the filing explicitly states that it is not an offer to sell securities.

Positive

• Share sale price increased to 102 % of reference price, improving capital raised per share.
• Launch of QuantGold Data Platform provides VCIG with a 20 % stake in a privacy-centric AI infrastructure venture.
• Integration of VCIG’s cybersecurity, AI-GPU and data assets into QuantGold may create operational synergies.

Negative

• Alumni Capital can exercise up to US$5 million of warrants on a cashless basis, potentially diluting existing shareholders without cash inflow.
• The filing includes no financial metrics or valuation details for the QuantGold stake, limiting visibility into economic impact.

Insights

Equity Capital Markets Specialist

TL;DR: Higher share sale price boosts capital efficiency, but $5 m cashless warrant introduces potential dilution.

The amendment raises the equity draw-down price from 0.85× to 1.02× the five-day low, a 20 %+ improvement that should enhance net proceeds per share and signal stronger negotiating leverage. However, permitting Alumni Capital to exercise commitment warrants on a cashless basis could raise the float without fresh cash, offsetting some benefit. Overall, the pricing change is incrementally positive for existing shareholders, while the dilution impact will depend on timing and market price at warrant exercise.

Technology & Cyber-Security Analyst

TL;DR: 20 % stake in QuantGold adds strategic AI-privacy exposure; financial upside unclear.

QuantGold positions VCIG in the emerging market for secure, privacy-preserving AI infrastructure. Folding its cybersecurity, GPU and data assets into the platform could create cross-selling opportunities and technical synergies. Yet the filing lacks cost, valuation or revenue guidance, making it hard to gauge materiality. From a strategic standpoint the move is positive, but investors will need more disclosure to quantify impact.

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO SECTION 13a-16 OR 15d-16

OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of June 2025

 

Commission File Number: 001-41678

 

VCI Global Limited

(Translation of registrant’s name into English)

 

B03-C-8 Menara 3A

KL, Eco City, No.3 Jalan Bangsar

59200 Kuala Lumpur

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F ☒ Form 40-F ☐

 

 

 

 

Modification Agreement with Alumni Capital LP

 

As previously disclosed, on August 1, 2024, VCI Global Limited (the “Company”) entered into a Share Purchase Agreement (the “Purchase Agreement”), as amended on September 27, 2024, January 13, 2025, and April 1, 2025 with Alumni Capital LP (“Alumni Capital”), a Delaware limited partnership.

 

On May 21, 2025, the Company entered into a Modification Agreement to the Purchase Agreement (the “Modification Agreement”) with Alumni Capital to, among other things, (i) increase the Purchase Price from the lowest traded price of our ordinary shares during the five consecutive business days prior the sale of Company’ ordinary shares to the Alumni Capital multiplied by 0.85 to the lowest traded price of the Company’s ordinary shares during the five consecutive business days prior the sale of our shares to Alumni Capital multiplied by 1.02 and (ii) provide the Alumni Capital with the right to exercise the Commitment Warrant in an amount up to $5,000,000 on a cashless basis.

 

Capitalized terms not defined herein have the same meanings assigned in the Modification Agreement.

 

The foregoing descriptions of the Modification Agreement are summaries of the material terms of such agreement, do not purport to be complete and are qualified in their entirety by reference to the Modification Agreement, which are furnished hereto as Exhibits 99.1.

 

Acquisition of QuantGold Data Platform

 

On June 24, 2025, the Company issued a press release, a copy of which is furnished hereto as Exhibit 99.2, to announce the official launch of the QuantGold Data Platform (“QuantGold”), a sovereign-grade AI infrastructure designed to enable computation on sensitive datasets without compromising data ownership or privacy.

 

The Company will own a 20% equity stake in QuantGold and integrate its cybersecurity, AI GPU, and data infrastructure businesses into the platform.

 

This Report on Form 6-K shall not constitute an offer to sell or the solicitation of an offer to buy the Company’s securities, nor shall there be any offer, solicitation, or sale of the Company’s securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: June 27, 2025	VCI Global Limited
 	 	 
 	By:	/s/ Victor Hoo
 	Name: 	Victor Hoo
 	Title:	Chairman and Chief Executive Officer

 

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Exhibit Index

 

Exhibit No.	 	Description
99.1	 	Modification Agreement between VCI Global Limited and Alumni Capital LP dated May 21, 2025
99.2	 	Press release dated June 24, 2025

 

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FAQ

What change did VCI Global (VCIG) make to its share purchase agreement?

The purchase price formula was raised from 85 % to 102 % of the five-day low trading price for VCIG shares.

How large is Alumni Capital’s new cashless warrant right?

Alumni Capital may exercise up to US$5 million of commitment warrants on a cashless basis.

What is the QuantGold Data Platform announced by VCIG?

QuantGold is a sovereign-grade AI infrastructure enabling computation on sensitive datasets without compromising data ownership or privacy.

What equity stake will VCIG hold in QuantGold?

VCIG will own a 20 % equity stake in the QuantGold Data Platform.

Does the Form 6-K include revenue or cost details for QuantGold?

No. The filing provides no financial terms, valuation, or revenue projections related to QuantGold.