Capital raising
24 August 2020 BRN today issued 35,000,000 fully paid ordinary shares (Share Option Agreement (as announced to ASX on 13 August 2020)
13 August 2020 Company Enters into an Equity Draw Agreement with LDA Capital.
Agreement provides the Company a Put Option for up to A$29 million.
15 April 2020 Company places 103.96M Fully Paid Ordinary Shares at $0.03 and raises A$3.12M in Gross Proceeds.
16 July 2019: BrainChip completes Retail Entitlement Offer. Concludes successful capital raise totalling around $10.7 million. Approximately 67 million new BrainChip shares will be issued at$0.06 per share
26 June 2019 Company Secures Funding for Product Development BrainChip has entered into a financing agreement with CST Capital Pty Ltd) for US$2.565 million. This funding will provide the necessary capital for the initial development of the Akida device.
Under the terms of the financing agreement, CST Capital will provide US$2.565 million to
BrainChip for the purchase of convertible notes. The convertible notes have an effective 10% interest rate paid upfront as a discounted subscription to the face value of the notes, being US$2.85 million, a 12-month maturity with up to three 6-month extensions at the Company’s election for an extension fee equal to 3% of the face value of the convertible notes outstanding at that time. The conversion price is equal to 92% of the average of a VWAP formula prior to a conversion notice.
The terms of the financing agreement also require BrainChip to issue to CST Capital 30,000,000 ordinary shares for no consideration as ‘collateral shares’(which can be used for the conversion of the notes or may be bought back by the Company for nominal consideration upon maturity), 1,561,279 ordinary shares in payment of the drawdown fee for the financing (at an effective price of $0.079 per share) and 21,868,976 options (with a three year term, and a strike price of $0.117) on completion of the purchase of the convertible notes.
31 October 2017 BrainChip Completes Placement to Raise A$21.5 million at A$0.18. 119,380,063 shares to be issued approximately 12% of BrainChip’s total post-placement issued share capital.
26 May 2017 BrainChip Holding Ltd. Raises A$6.0M in Private Placement
Company Placed 40M Ordinary Shares at A$0.15 per share and included a 1-for-2 option at a strike price of A$0.23.
26 October 2016 BrainChip raises A$5.355m through an Oversubscribed Placement. The placement, which was initially expected to raise between A$3m and A$4m, was priced at A$0.18 per share.
2 June 2016 Placement of Rights Issue Shortfall to High Net Worth Individuals –
$4.075 Million raised. The Rights Issue offered up to 27,169,585 new shares at an issue price of $0.15 per share to raise a total of $4.075 million before costs.