REG - Substrate AI-Class B - Investment agreement and issue of equity

Substrate Artificial Inteligence SAAnnouncement

22/12/2023 10:15

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RNS Number : 7837X  Substrate Artificial Intel - B    22 December 2023

 

The announcement for Substrate Artificial Inteligence S.A. originally released
on 19 December 2023 at 07:00 am under RNS No 2204X has been re-released in the
interests of market clarity.

The announcement text is unchanged and is reproduced in full below.

 

19 December 2023

 

SUBSTRATE ARTIFICIAL INTELIGENCE SOCIEDAD ANONIMA

("Substrate AI" or the "Company")

Investment agreement and issue of equity

 

Substrate AI (AQUIS: SAI/SAI.B) is pleased to announce that it has entered
into an agreement with the venture capital investment fund IMPULSE TECH
TRANSFER CLM FCR (hereinafter IMPULSE) for the investment of IMPULSE in the
share capital of Substrate AI.

 

The agreement entails the entry of IMPULSE in the share capital of the Company
by means of a cash contribution of €2,000,000 at 0.5 euros per A share,
which will translate into the issuance of 4,000,000 A shares through a capital
increase 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.

 

The agreement also gives IMPULSE the right to appoint one Director to the
Supervisory Board of Substrate AI, which will be announced in due course.

 

The Directors of Substrate AI accept responsibility for this 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.

 

 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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