REG - Acceler8 Ventures - Proposed Convertible Loan Note Issuance

Acceler8 VenturesAnnouncement

23/01/2025 07:00

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RNS Number : 3354U  Acceler8 Ventures PLC  23 January 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

23 January 2025

ACCELER8 VENTURES PLC

Proposed Convertible Loan Note Issuance

Acceler8 Ventures Plc (LSE: AC8, "AC8" or the "Company"), the Main Market
listed acquisition company, announces that further to the Company's Proposed
Acquisition of Verifyyed, Inc. announced on 17 December 2024, it is proposing
to raise up to £750,000 through the issuance of unsecured convertible loan
notes (the "Notes").

Proceeds from the Notes will be used to support the diligence and acquisition
process, and it is anticipated that they will be issued on the following
terms:

 ·             An accrued coupon of 8 per cent. per annum which shall be rolled until the
               conversion of the Notes
 ·             Automatic conversion of the Note principal and accrued interest into ordinary
               shares of the Company at the earlier of completion of the Proposed
               Acquisition, and three years from the date of Note issuance
 ·             A conversion price of £1.00 per ordinary share

The Company will make further announcements in due course, as appropriate.

Inside Information

 

This announcement contains inside information as defined in Regulation (EU)
No. 596/2014 on market abuse which is part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 ("MAR") and is made in accordance with
the Company's obligations under article 17 of MAR. The person responsible for
arranging the release of this announcement on behalf of AC8 is David Williams,
Chairman of AC8.

 

Enquiries:

 

 Tessera Investment Management Limited
 Tony Morris                            +44 (0) 7742 189145

 

 

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