REG - Silver Bullet Data - Convertible Loan Note Fundraise of £200,000

Silver Bullet Data ServicesAnnouncement

09/05/2025 10:30

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RNS Number : 0799I  Silver Bullet Data Services Grp PLC  09 May 2025

9 May 2025

 

Silver Bullet Data Services Group plc

("Silverbullet" or the "Company", or, together with its subsidiaries, the
"Group")

Convertible Loan Note Fundraise of £200,000

 

Silverbullet, a provider of AI driven digital transformation services and
products, is pleased to announce that it has raised £200,000 via the issue
of convertible loan notes (the "Convertible Loan Notes" or "CLNs") under the
terms of its existing convertible loan instrument announced on 1 June 2023,
save for the conversion price being varied to £0.36p. Further details
regarding the terms of the CLN are set out below.

 

The CLNs will provide the Company with additional working capital to support
the significant growth in sales of 4D and its services offering.

 

 

Ian James, Chief Executive Officer of Silverbullet, commented:

"We are pleased to announce this convertible loan note funding, which provides
the Company with further working capital to support the accelerating demand
from both new and existing clients who are choosing Silverbullet to enhance
their data and technology infrastructure."

 

 

 

For further information please contact:

 Silverbullet                                                via IFC
 Ian James (CEO) / Chris Ellis (CFO)

                                                             0207 409 3494

 Strand Hanson Limited - Financial and Nominated Adviser
 James Spinney / James Bellman / Robert Collins

                                                             0203 829 5000

 Zeus Capital Limited - Joint Broker
 Simon Johnson / Jake Walker
                                                             0203 003 8632

 CMC Markets - Joint Broker
 Douglas Crippen

                                                             020 3934 6630

 IFC Advisory
 Graham Herring / Tim Metcalfe / Florence Staton             07793 839 024

 

 

Further information on the the terms of the CLN

·    The CLNs have a term of three years and attract interest at a rate
of 12% per annum, payable from the date of issue either as, at the Company's
option:

-  8% per annum paid monthly in cash, and 4% payable via the issue of
additional Convertible Loan Notes as payment in kind; or

-  12% payable via the issue of additional Convertible Loan Notes as payment
in kind.

·    The CLNs are unsecured and convertible into new ordinary shares of
1p each in the Company ("Ordinary Shares") at a price of £0.36 per new
Ordinary Share (the "Conversion Price").

·    The CLNs are convertible, in part or in full, at the option of the
noteholders from the date of issue until the final repayment date, being
the third anniversary of the date of issue. In addition, the CLNs
are automatically convertible on a change of control of the Company, subject
to certain conditions.

·    If not repaid, redeemed or converted by the maturity date, the CLNs
are repayable in cash in full together with accrued interest.

·    The Company may redeem the CLNs in cash at any time at 115% of
par. Noteholders will have 15 business days to respond with a conversion
notice, which would render the redemption offer null and void and cause the
relevant CLNs to convert at the Conversion Price.

·    If converted in full at the Conversion Price, the CLNs will represent
approximately 3.19% of the Company's then enlarged issued share capital
(excluding any impact of payment-in-kind interest and assuming no other
Ordinary Shares are issued prior to conversion).

 

It is noted that the maximum number of new Ordinary Shares that may be issued
on conversion of the CLNs, including the potential impact of additional notes
issued as payment in kind of interest, is 780,516 Ordinary Shares.

 

 

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018, as amended by virtue of the Market
Abuse (Amendment) (EU Exit) Regulations 2019.

 

 

About Silverbullet

Silverbullet's proprietary 4D AI advertising solution is designed to help
advertisers target consumers in a "privacy-first world". The product is a
natural extension to its existing services business which already serves a
blue-chip client base such as a leading UK hospitality brand and a Global
Brewing company, amongst many others.

 

Headquartered in London, the Group employs 85+ data specialists across five
regions across the globe, including, the UK, Italy, Australia, USA and Latin
America. The Group continues to look at other opportunities for expansion
worldwide.

 

The Company has an established and growing solutions business with significant
accumulated industry experience and a proven track record of delivering
strategic digital transformation and activation services to its clients. The
majority of the Board have held senior positions at global software companies
and have significant industry experience across data engineering, SAAS product
development and marketing.

 

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