REG - Substrate AI-Class B - Bond Conversion

Substrate Artificial Inteligence SAAnnouncement

13/05/2024 12:00

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RNS Number : 1638O  Substrate Artificial Intel - B    13 May 2024

 

 

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.

 

13 May 2024

 

SUBSTRATE ARTIFICIAL INTELIGENCE SOCIEDAD ANONIMA

("Substrate AI" or the "Company")

BOND CONVERSION

Substrate AI (AQUIS: SAI/SAI.B) announces that, as a follow-up to the
communication of Other Relevant Information of May 18, 2023 and the
resolutions adopted by the Company's General Shareholders' Meeting on May 17,
2023, in relation to the delegation and issuance of convertible bonds within
the framework of the financing agreement reached between the Company and
GLOBAL CORPORATE FINANCE OPPORTUNITIES (the "Investor"), the Investor, in
accordance with the terms and conditions of the convertible bonds, has
proceeded to convert on March 12, 13, 15, 20, 22 and 26 and April 4 and 8:

a) 5 bonds for a combined nominal amount of €50,000, at a conversion price
of €0.19 per share.

b) 5 bonds for a combined nominal amount of €50,000, at a conversion price
of €0.19 per share.

c) 5 bonds for a combined nominal amount of €50,000, at a conversion price
of €0.19 per share.

d) 3 bonds for a combined nominal amount of €30,000, at a conversion price
of €0.18 per share.

e) 5 bonds for a combined nominal amount of €50,000, at a conversion price
of €0.17 per share.

f) 3 bonds for a combined nominal amount of €30,000, at a conversion price
of €0.16 per share.

g) 3 bonds for a combined nominal amount of €30,000, at a conversion price
of €0.15 per share.

h) 21 bonds for a combined nominal amount of €210,000, at a conversion price
of €0.15 per share.

Following the completion of the above transactions by GLOBAL CORPORATE FINANCE
OPPORTUNITIES, the convertible bonds of the 14(th) issue "Convertible Bonds
(MARCH 2024)" have been fully repaid.

In this regard, the Company's share capital will increase by a total nominal
amount of €500,000 through the issuance of 3,037,754 Class A Shares ("New
Shares") with a par value of €0.10 each under the rules provided for in the
Spanish Companies Act and which will be announced following approval by the
official register of companies in Spain.

Of the total of the Company's New Shares, 789,471 Class A Shares are issued at
an issue price of €0.19 per share (€0.10 nominal plus €0.09 issue
premium), 166,666 Class A Shares are issued at an issue price of €0.18 per
share (€0.10 nominal plus €0.08 issue premium),  294,117 Class A Shares
are issued at an issue price of €0.17 per share (€0.10 par value plus
€0.07 issue premium), 187,500 Class A Shares are issued at an issue price of
€0.16 per share (€0.10 nominal plus €0.06 issue premium) and 1,600,000
Class A shares are issued at an issue price of €0.15 per share (€0.10
nominal plus €0.05 premium of issue).

Once the deed of capital increase by conversion is registered in the
Mercantile Registry of Madrid, the Company will apply for admission to trading
of the 3,037,754 New Shares of the Company in the BME Growth segment of BME
MTF Equity and the Access Segment of the AQSE Stock Exchange, where the
Company's shares are listed and the Company will make further announcements in
due course.

The Directors of Substrate AI accept responsibility for this announcement.

 

 Substrate AI
 Lorenzo Serratosa                     info@substrate.ai (mailto:info@substrate.ai)

 Chairman
 First Sentinel Corporate Finance

 Corporate Advisors
 Brian Stockbridge                     +44 (0) 7858 888 007

 

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.

 

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