REG - Substrate Artificial Substrate AI-Class B - Investment Agreement

Substrate Artificial Inteligence SAAnnouncement

09/02/2024 17:00

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RNS Number : 6954C  Substrate Artificial Inteligence,SA  09 February 2024

 

9 February 2024

SUBSTRATE ARTIFICIAL INTELIGENCE SOCIEDAD ANONIMA

("Substrate AI" or the "Company")

INVESTMENT AGREEMENT

Substrate AI (AQUIS: SAI/SAI.B) announces that it has entered into an
investment agreement (the "Agreement") with INDICO INVESTMENTS AND MANAGEMENT,
SL. (the "Investor").

The Agreement will be executed through various capital increases for a maximum
amount of €2,000,000. The investment commitment expires on 7 February 2027.

The capital increases will relate to the Company's Class A shares and will be
carried out in tranches of €500,000 at the request of the Company, at the
fixed price based on the closing price on the day immediately prior to the
date on which the resolution to increase the capital is passed, with a
discount of 10%.

Additionally, the transaction entails the following commission costs:

-  2% commission on the total amount committed in the Agreement, payable in
cash to the Investor in three instalments upon disbursement of trench one, two
and three.

-  15% commission for each capital increase, payable in cash or Class A
shares of the Company.

Related Party Transaction

Indico Investments and Management, SL is considered a "Related Party" as
defined under the AQSE Growth Market Access Rulebook as a result of having
been a substantial shareholder in the 12 months before the date of the
transaction. The Investor currently holds 7.56% of Class B shares in the
Company.

Having exercised reasonable care, skill and diligence, the directors are
comfortable that the transaction is fair and reasonable as far as the
shareholders of the issuer are concerned.

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

For further information, please contact:

 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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