New York – April 8, 2026 – Rezolve Ai PLC (NASDAQ: RZLV) (“Rezolve”), the global leader in AI-native commerce infrastructure, today announced it has issued an open letter to the shareholders of Commerce.com Inc. (NASDAQ: CMRC) (“Commerce.com”). This action follows the Commerce.com Board’s repeated refusal to engage in substantive discussions regarding a strategic combination that would protect shareholder value from further erosion and unlock transformational value.
A Fiduciary Crisis: Board and Management Failure Resulting in Wealth Destruction
Rezolve Ai’s public intervention is driven by the visible and sustained failure of Commerce.com’s Board and management to protect shareholder value or articulate a credible strategy for the future:
- Market Rejection: Since its 2020 initial public offering, Commerce.com’s stock has lost over 96% of its value under the stewardship of its current Board and management.
- Operational Stagnation: Annual Recurring Revenue (ARR) growth has withered to approximately 3% YoY with the Commerce.com Board forecasting just 1.5% year-on-year growth.
- Zombie Stock: With anemic daily trading volume, shareholders are trapped in an illiquid asset with no visible catalyst for a re-rating.
- Strategic Deficit: Standing alone under its current leadership, Commerce.com lacks the proprietary AI architecture and industrial-scale infrastructure required to compete in the shift to agentic commerce.
The AI-First Consolidator
Commerce.com possesses real, underutilized assets: a global customer base, an installed base of more than 60,000 online stores, established enterprise relationships and meaningful recurring revenues. The Board and management team are squandering them. Deploying Brain Suite and RezolvePay across Commerce.com’s network of 60,000 captive merchants will instantly accelerate Rezolve’s proprietary payment rail rollout and unlock robust new monetization streams, value that Commerce.com’s current leadership is incapable of realizing. Together, the two companies will form a $700+ million revenue global powerhouse that is instantly profitable, ending the era of speculative AI and creating a self-sustaining platform built on real revenue, real margins and real scale. This is a textbook value creation opportunity for all shareholders.
The Offer: A Disciplined Path to Value Recovery
Rezolve Ai is proposing an all-stock combination at a fixed exchange ratio of 2 shares of Commerce.com series 1 common stock for one ordinary Rezolve Ai share, limiting Rezolve Ai shareholder dilution to under 10%. This reflects a disciplined valuation of Commerce.com’s business relative to Rezolve and it is still far more than the Commerce.com Board’s current strategy will ever deliver. While Commerce.com stagnates at 3% growth and zero liquidity, Rezolve is the high-velocity engine of the AI era. This carefully reasoned structure reflects the objective market reality:
- The Valuation Gap: Wall Street values Rezolve Ai at $11.00, nearly 4x the current trading price. By exchanging into Rezolve Ai at a 2:1 ratio, Commerce.com shareholders are swapping a stagnant, illiquid asset for $5.50 of implied value per share. This is a substantial premium over the decline and total lack of vision that currently defines Commerce.com under its present Board.
- The Liquidity Lifeboat: Rezolve Ai shares trade over 23.6 million shares daily, offering shareholders unmatched liquidity compared to Commerce.com’s dead volume. Shareholders currently trapped in Commerce.com’s relatively illiquid stock are being offered a demonstrably more liquid instrument at a defining moment in the AI growth cycle.
Rezolve Ai: Proven Execution at Scale
While Commerce.com’s Board and management stagnate, Rezolve Ai has systematically deployed its capital and technology to build its presence in the category:
- Explosive Growth: H2 2025 revenue grew 543% over H1, validating Rezolve Ai’s hockey-stick trajectory.
- Forward Visibility: Rezolve Ai entered 2026 with $232 million in contracted revenue already secured. Based on this momentum, the company has increased its 2026 revenue guidance to $360 million, representing 7.5x year-on-year growth.
- Capital Efficiency: Rezolve Ai has secured over $750 million in total funding, with no need for additional operational equity to execute its 2026 mission. This capital has been aggressively put to work to capture the enterprise search and transaction layers.
- Industrial Scale: In 2025, Rezolve Ai’s infrastructure processed 112.7 billion API calls and reached nearly 60 million consumer devices.
- A Global Giant: By combining the businesses, we create an instantly profitable global giant with over $700 million in revenue, ending the era of speculative AI.
We have been transparent with the Commerce.com Board, but they have chosen not to engage while their shareholders suffer through decline.
This 2-for-1 exchange offers a strategic reset for Commerce.com, and now we are going directly to the people who actually own this company. This combination would create a $700 million revenue powerhouse, and it is Commerce.com shareholders’ one chance to swap a sinking stock for a seat in a hyper-growth AI commerce powerhouse. The Commerce.com Board had their turn. Now it is the shareholders’ turn.
Daniel M. WagnerChairman and CEO | Rezolve Ai PLC
Additional Information
For more information, shareholders can contact Rezolve Ai’s Information Agent Georgeson LLC.
Information Agent
Bill Fiske / Jim Gill, Georgeson LLC
Toll-free: +1 (877) 811-6561
Email: CommerceInfo@Georgeson.com
Shareholders are also encouraged to review the formal Open Letter and Rezolve’s recent 2025 Annual Report, both of which have been filed with the SEC and are available at rezolve.com.
About Rezolve Ai
Rezolve Ai (NASDAQ: RZLV) is an industry leader in AI-powered solutions, specializing in enhancing customer engagement, operational efficiency, and revenue growth. The Brain Suite is the world’s first enterprise AI platform built for Agentic Commerce, delivering advanced tools that harness artificial intelligence to power search, transact, fulfill, and personalize at global scale. For more information, visit rezolve.com.
Daniel M. WagnerChairman and CEO | Rezolve Ai PLC