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 14th 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.
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Substrate AI
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Lorenzo Serratosa
Chairman
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info@substrate.ai
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First Sentinel Corporate
Finance
Corporate Advisors
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Brian Stockbridge
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+44 (0) 7858 888
007
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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.