Highlights:
• BrainChip raises A$21.5 million in an oversubscribed share placement.
• Placement was supported by a large number of institutions.
• Funds raised will allow BrainChip to accelerate its commercialisation strategy and to further develop its existing video analytics products and its planned AKIDATM Neuromorphic Processor Unit.
San Francisco – 31 October, 2017 BrainChip Holdings Ltd. (“BrainChip” or the “Company”) (ASX:BRN), a leading developer of software and hardware accelerated solutions for advanced Artificial Intelligence (AI) and machine learning applications, is pleased to announce that it has completed a placement to raise A$21.5 million (“Placement”).
NB: The shares issued under the Placement will comprise approximately 12% of BrainChip’s total post-placement issued share capital (not pre-placement as disclosed earlier today) and will rank equally with existing ordinary shares.
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