9 February
2024
SUBSTRATE
ARTIFICIAL INTELIGENCE SOCIEDAD ANONIMA
("Substrate AI" or the "Company")
INVESTMENT
AGREEMENT
Substrate AI (AQUIS: SAI/SAI.B)
announces that it has entered into an investment agreement (the
"Agreement") with INDICO INVESTMENTS AND MANAGEMENT, SL. (the
"Investor").
The Agreement will be executed
through various capital increases for a maximum amount of
€2,000,000. The investment commitment expires on 7 February
2027.
The capital increases will relate to
the Company's Class A shares and will be carried out in tranches of
€500,000 at the request of the Company, at the fixed price based on
the closing price on the day immediately prior to the date on which
the resolution to increase the capital is passed, with a discount
of 10%.
Additionally, the transaction
entails the following commission costs:
- 2% commission on the total
amount committed in the Agreement, payable in cash to the Investor
in three instalments upon disbursement of trench one, two and
three.
- 15% commission for each
capital increase, payable in cash or Class A shares of the
Company.
Related Party Transaction
Indico Investments and Management,
SL is considered a "Related Party" as defined under the AQSE Growth
Market Access Rulebook as a result of having been a substantial
shareholder in the 12 months before the date of the transaction.
The Investor currently holds 7.56% of Class B shares in the
Company.
Having exercised reasonable care,
skill and diligence, the directors are comfortable that the
transaction is fair and reasonable as far as the shareholders of
the issuer are concerned.
The Directors of the Company accept
responsibility for the contents of the
announcement.
This announcement contains
information which, prior to its disclosure, was inside information
as stipulated under Regulation 11 of the Market Abuse (Amendment)
(EU Exit) Regulations 2019/310 (as amended). Upon the publication
of this announcement via a Regulatory Information Service, this
inside information is now considered to be in the public
domain.
For further information, please
contact:
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Substrate AI
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Lorenzo Serratosa
Chairman
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info@substrate.ai
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First Sentinel Corporate
Finance
Corporate Advisors
|
|
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Brian Stockbridge
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+44 (0) 7858 888
007
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About Substrate AI: Substrate AI is
an artificial intelligence company based in Spain that creates,
buys and scales companies around AI in diverse sectors such as
fintech, agritech, energy, human resources, or health. All of them
sell products and services built on the bio-inspired reinforced
learning technology developed and patented by Substrate
AI.