REG - IQ-AI Limited - Placing to raise £250,000

IQ-AIAnnouncement

18/03/2025 10:45

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RNS Number : 1361B  IQ-AI Limited  18 March 2025

IQ-AI Ltd

("IQ-AI" or the "Company")

 

Placing to raise £250,000

 

IQ-AI is pleased to announce that that the Company, through its corporate
broker Peterhouse Capital Limited ("Peterhouse"), has conditionally raised
gross proceeds of £250,000 via a placing (the "Placing") of 25,000,000 new
ordinary shares at a price of £0.01 per share (the "Placing Shares"). The
Placing was undertaken with existing and new shareholders.

 

Completion of the Placing is conditional on the Placing Shares being admitted
to listing on the Equity Shares (transition) category of the Official List and
to trading on the London Stock Exchange's main market for listed securities
("Admission").

 

Braveheart Investment Group plc ("Braveheart"), an existing shareholder in the
Company, has subscribed for 7,000,000 Placing Shares for a consideration of
£70,000. On Admission of the Placing Shares, Braveheart will hold 72,415,862
ordinary shares in IQ-AI which represents 29.35% of the issued share capital
of IQ-AI as enlarged by the Placing.

 

Use of Proceeds

 

The proceeds will be used for clinical trials of GaM (adult and pediatric) and
the Expanded Access Program. Additionally, the funds will support and
accelerate organic growth, including the completion of the release of IB
Clinic and IB Nimble, as well as the expansion of the marketing and sales
teams.

 

Admission & Total Voting Rights ("TVR") Statement

 

Prior to this Placing, the Company had 221,709,789 ordinary shares of £0.01
par value on issue, each with one vote per share. The Company does not hold
any ordinary shares in treasury. Following the issuance of the 25,000,000
Placing Shares, the TVR will increase by 25,000,000 shares, bringing the total
number of voting rights in the Company to 246,709,789.

 

Therefore, the figure of 246,709,789, post the issue of these new Placing
Shares, can be used by shareholders to determine whether they have a
notifiable interest in the share capital of the Company under the Disclosure
Guidance and Transparency Rules, or if such interest has changed.

 

Applications will be made to the FCA and to the London Stock Exchange for
admission in respect of all the Placing Shares proposed to be issued on
completion of the Placing.  It is expected that Admission will become
effective, and that dealings in the Placing Shares are expected to commence at
8.00 a.m. 24 March 2025.

 

The rights attaching to the Placing Shares will be uniform in all respects and
all of the new Placing Shares will rank pari passu, and form a single class
for all purposes with, the existing issued shares of £0.01 in the Company.

 

--ENDS--

 The Directors of the Company accept responsibility for the contents of this
announcement.

 For further information, please contact:

  IQ-AI Ltd

 Trevor Brown/Dr Musella/Brett Skelly/Michael Schmainda

 Tel: 020 7469 0930
 Peterhouse Capital Limited (Financial Adviser and Broker)

 Tel: 020 7220 9797

 

About Imaging Biometrics, LLC

IQ-AI Limited, (LON: IQAI) (OTCQB: IQAIF), the parent company of
Wisconsin-based Imaging Biometrics, LLC (IB), is focused on delivering
quantitative imaging platforms and therapeutics that transform how clinicians
diagnose and treat patients more efficiently and effectively. For more
information about Imaging Biometrics, visit the company's website at
www.imagingbiometrics.com (http://www.imagingbiometrics.com) .

 

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