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Maddocks advises AI company on capital raising

• 18 August 2020 • 1 min read

Maddocks has advised ASX-listed global AI technology company Brainchip Holdings Limited on its agreement with a United States-based investment group to access up to A$29 million in new financing.

The put option agreement will see investment group LDA Capital provide up to A$29 million of committed equity capital to Brainchip over the next 12 months, with the option for it to be extended for a further 12 months. The capital will be applied towards the commercialisation of Brainchip’s ground breaking Akida artificial intelligence technology.

The Maddocks team on the matter was partner Catherine Merity and special counsel Rosamond Sayer.

This is the second time in 12 months that the firm has advised Brainchip on a capital raising. In 2019, Maddocks advised the company on its A$6.7 million capital raising by way of an accelerated non-renounceable entitlement offer and on a US$2.565 million convertible note investment.

Editor note:

Maddocks is a proudly independent Australian law firm that works closely with corporations, businesses and governments throughout Australia and internationally. We advise national and international clients across the education, government, healthcare, infrastructure and technology sectors, from our Canberra, Melbourne and Sydney offices. Our specialist expertise includes dispute resolution and litigation, employment and safety, financial services, franchising and insolvency.

For more information:

Jason Silverii
Communications Manager
Tel: 3 9258 3509
Mobile: 0407 618 058
jason.silverii@maddocks.com.au

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