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Decidr AI secures $15M for strategic growth
Decidr AI secures $15M for strategic growth

Decidr AI secures $15M for strategic growth

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Decidr AI Industries (ASX:DAI) secured $15 million through a heavily supported share placement.

The company announced it has received binding commitments for the issue of approximately 24.6 million new fully paid ordinary shares, representing roughly 7.6% of its existing shares on issue.

The placement was priced at $0.61 per share, reflecting a 13.5% discount to the last closing price of $0.705 on May 4, though it notably maintains an 8.3% premium over the 30-day volume-weighted average price.

The capital raise saw participation from a diverse mix of existing shareholders and new institutional and professional investors.

The net proceeds are earmarked for a range of strategic growth initiatives, primarily focused on the productisation and development of a knowledge security platform within its subsidiary, Sugarwork.

Furthermore, the funds will facilitate deeper market penetration through mergers and acquisitions, sovereign compute projects, and the expansion of the company’s patent and research portfolio.

Executive Chairman David Brudenell emphasised that this "capex-enabling" placement allows the firm to move quickly in an industry defined by unprecedented change.

Settlement of the new shares, which will rank equally with existing stock, is expected to occur on May 13.

Morgans Corporate and MST Financial Services acted as joint lead managers and bookrunners for the transaction.

At the time of reporting, Decidr AI Industries’ share price was $0.63.

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