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AI company advised on $64m cap raise
A global technology company, headquartered in Australia, has been advised on its recent £34.3 million (approximately AU$64 million) capital raising.
Jerome Doraisamy
Source: Seeing Machines' facebook page
Firm: DLA Piper (Seeing Machines Limited)
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Deal: Seeing Machines has conditionally raised gross proceeds of £27.5 million (approximately $51.3 million) by way of a conditional placing of, and subscription for, new ordinary shares with existing and new investors.
It has further proposed to give an opportunity to qualifying participants in the United Kingdom, Ireland and the Isle of Man to raise to a further £6.8 million (approximately $12.7 million).
Value: $64 million
Area: Corporate
Key players: The DLA team was led by Corporate partner Mark Burger and senior associate Dylan Burke.
Deal significance: Mr Burger said: “We’re pleased to once again partner with Seeing Machines as they continue their growth in emerging markets. The proceeds of this transaction will help the company invest in its core platform technology and continue design development of existing and next-generation products.”
