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.
VCI Global Limited has submitted a request to withdraw its Registration Statement on Form F-3 (File No. 333-287522) that was initially filed on May 22, 2025. The company is withdrawing the registration because it no longer wishes to proceed with the proposed securities offering.
Key points regarding the withdrawal:
- The Registration Statement had not been declared effective by the SEC
- No securities were issued or sold under the Registration Statement
- The company acknowledges no refund will be made for fees paid to the SEC
- Company requests that all paid fees be credited for future use under Rule 457(p)
The withdrawal request is made pursuant to Rule 477 under the Securities Act of 1933. The company states that the withdrawal is consistent with public interest and investor protection as outlined in Rule 477(a). Legal correspondence is being handled through Sichenzia Ross Ference Carmel LLP.