REG - Substrate Artificial Substrate AI-Class B - Other Relevant Information

Substrate Artificial Inteligence SAAnnouncement

28/12/2023 07:00

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RNS Number : 9862X  Substrate Artificial Inteligence,SA  28 December 2023

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.

 

28 December 2023

SUBSTRATE ARTIFICIAL INTELIGENCE SOCIEDAD ANONIMA

("Substrate AI" or the "Company")

OTHER RELEVANT INFORMATION

Substrate AI (AQUIS: SAI/SAI.B) announces that, as a follow-up to the
Communication of Other Relevant Information of 18 May 2023 and the resolutions
adopted by the Company's general  meeting on 17 May 2023, in relation to the
delegation and issuance of convertible debentures 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 debentures, has proceeded to convert on
October 25 and 26 and November 1, 3, 7, 8, 13, 15 and 21:

5 bonds for a combined nominal amount of €50,000, at a conversion price of
€0.21 per share.

10 bonds for a combined nominal amount of €100,000, at a conversion price of
€0.21 per share.

5 bonds for a combined nominal amount of €50,000, at a conversion price of
€0.21 per share.

5 bonds for a combined nominal amount of €50,000, at a conversion price of
€0.21 per share.

5 bonds for a combined nominal amount of €50,000, at a conversion price of
€0.21 per share.

5 bonds for a combined nominal amount of €50,000, at a conversion price of
€0.21 per share.

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

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

5 bonds for a combined nominal amount of €50,000, at a conversion price of
€0.18 per share.

Following the completion of the above transactions by GLOBAL CORPORATE FINANCE
OPPORTUNITIES, the convertible debentures of the twelfth issue "Convertible
Debentures (OCTOBER 2023)" have been fully repaid.

In this regard, the Company's share capital will increase by a total nominal
amount of €247,075.60 through the issuance of 2,470,756 new 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, 1,666,665 Class A Shares will be
issued at an issue price of €0.21 per share (€0.10 nominal plus €0.11
issue premium), 526,314 Class A Shares will be issued at an issue price of
€0.19 per share (€0.10 nominal plus €0.09 issue premium),  and 277,777
Class A Shares will be issued at an issue price of €0.18 per share (€0.10
nominal plus €0.08 issue premium).

Once the deed of capital increase by conversion is registered in the
Mercantile Registry of Madrid, the Company will apply for the admission to
trading of the 2,470,756 New Shares of the Company on the BME  Growth segment
of BME MTF Equity and 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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