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Listed tech company advised on access to new financing
ASX-listed global AI technology company BrainChip Holdings has been advised on its agreement with a US-based investment group to access up to $29 million in new financing.
Reporter
Firm: Maddocks (BrainChip Holdings Limited).
Value: Up to $29 million.
Area: Equity capital markets.
Key players: The Maddocks team consisted of partner Catherine Merity and special counsel Rosamond Sayer.
Deal significance: The capital raised, Maddocks said, “will be applied towards the commercialisation of [BrainChip’s groundbreaking] Akida artificial intelligence technology”.
It is the second time in 12 months that Maddocks has advised Brainchip on a capital raising, having advised last year on the company’s $6.7 million capital raising by way of an accelerated non-renounceable entitlement offer and on a US$2.565 million convertible note investment.
