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:

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