The sale of Versarien, which previously announced it had been "receiving multiple offers" for the accelerated sale of its intellectual property and shares, has reportedly collapsed at the final hurdle and administration now seems likely. The company has been close to administration throughout 2025 and said in late September that it would run out of cash by November.
Versarien was in the process of closing a £200,000 deal with an unnamed company which would have seen it buy Versarien’s shares in Total Carbide Limited and Gnanomat SL, together with assets including patents and trademarks held by Versarien and graphene production equipment held by Versarien Graphene Limited – the latter of which is already in administration.
The deal was £100,000 for the assets and £100,000 for the shares, while the acquirer was also to take on responsibility for an Innovate UK loan of £5.7 million. Versarien would have become a cash shell company and looked for reverse takeover opportunities after settling its remaining liabilities.
The deal, subject to due diligence, was expected to complete by the end of November, with Versarien warning that should it collapse, the board “may have no alternative but to seek to appoint administrators to Versarien plc”.
Now, Versarien said it had been notified by the potential acquirer that it is withdrawing its offer. “The board is in the process of taking advice and considering its options. As stated previously this may include appointing administrators to the company,” it said.
