Acceler8 Ventures PLC Proposed Convertible Loan Note Issuance
January 23 2025 - 1:00AM
RNS Regulatory News
RNS Number : 3354U
Acceler8 Ventures PLC
23 January 2025
THIS ANNOUNCEMENT CONTAINS INSIDE
INFORMATION
23 January 2025
ACCELER8 VENTURES
PLC
Proposed Convertible Loan
Note Issuance
Acceler8 Ventures Plc (LSE: AC8,
"AC8" or the "Company"), the Main Market listed
acquisition company, announces that further to the Company's
Proposed Acquisition of Verifyyed, Inc. announced on 17 December
2024, it is proposing to raise up to £750,000 through the issuance
of unsecured convertible loan notes (the "Notes").
Proceeds from the Notes will be used
to support the diligence and acquisition process, and it is
anticipated that they will be issued on the following
terms:
·
|
An accrued coupon of 8 per cent. per
annum which shall be rolled until the conversion of the
Notes
|
·
|
Automatic conversion of the Note
principal and accrued interest into ordinary shares of the Company
at the earlier of completion of the Proposed Acquisition, and three
years from the date of Note issuance
|
·
|
A conversion price of £1.00 per
ordinary share
|
The Company will make further announcements in due course, as
appropriate.
Inside Information
This announcement contains inside
information as defined in Regulation (EU) No. 596/2014 on market
abuse which is part of UK domestic law by virtue of the European
Union (Withdrawal) Act 2018 ("MAR") and is made in accordance with
the Company's obligations under article 17 of MAR. The person
responsible for arranging the release of this announcement on
behalf of AC8 is David Williams, Chairman of
AC8.
Enquiries:
Tessera Investment Management Limited
|
|
Tony Morris
|
+44 (0)
7742 189145
|
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END
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