Aterian Plc (LSE: ATN) has approved the redemption and conversion of £54,000 of its outstanding PIK Bonds. This conversion will result in the issue of 216,000 new ordinary shares at a conversion price of 25 pence per share. The Conversion Shares will rank equally with the Company's existing shares. The Conversion Shares are expected to be admitted to trading on the London Stock Exchange around 26 May 2026.

Executive Chairman Charles Bray highlighted the Company's focus on reducing debt and potential dilution while building a diversified critical minerals platform. Following the admission of the Conversion Shares, the Company will have a total of 17,900,000 Ordinary Shares.