Alchemy Investments Acquisition Corp. 1 'Alchemy' (NASDAQ: ALCY), a publicly traded special purpose acquisition company, today announced that it is evaluating a potential private investment in public equity ("PIPE") to support its proposed business combination transaction with Cartiga, LLC ("Cartiga") and the post-closing business plan.

Alchemy, Cartiga and their advisors have commenced preliminary discussions with potential investors regarding a possible PIPE financing. No definitive agreements with respect to any PIPE financing have been entered into to date, and there can be no assurance that Alchemy will enter into any such definitive agreements or consummate any PIPE financing on any particular terms, or at all.