Business
Fundraise of up to £1.6m
Fundraise of up to £1.6m.
About this update from Catenai Plc
[{"type":"text","content":"\n\n26 June 2025\n \nCatenai PLC\n \n(\"Catenai\" or the \"Company\")\n \nFundraise of up to £1.6m\n Bitcoin focused treasury policy\nCatenai (AIM: CTAI), the AIM quoted provider of digital media and technology, announces that the Company has raised up to £1,600,000 comprising a placing of 214,285,713 new ordinary shares of 0.01 pence each (\"Ordinary Shares\") at 0.35 pence per share (the \"Issue Price\") (the \"Placing\") raising gross proceeds of £750,000 and a subscription of 242,857,143 new Ordinary Shares at the Issue Price, raising proceeds of £850,000 (the \"Subscription\") (together, the \"Fundraise\").\n \n155,431,741 of the new Ordinary Shares to be issued pursuant to the Fundraise are conditional on approval of shareholder authorities which will be sought at a General Meeting (\"GM\") of the Company. The GM is expected to occur in July 2025, a further announcement convening the GM will be made shortly.\n \nThe Company is exploring the implementation of a facility to enable retail investors to participate in any future equity fundraises. A further announcement will be made in due course should such a facility be established.\n \nDigital media is a rapidly evolving space and technological advancements have triggered mass adoption of AI throughout the industry. The Fundraise is intended to secure Catenai's complimentary investment in Alludium Limited (\"Alludium\"), which the Directors believe will assist this strategy and provides the funds to continue progress within the Company's core digital media business. Alongside the Company's long-term strategy, a portion of excess cash will be held within a crypto treasury function.\n● The Directors have established a treasury function with a principal focus on Bitcoin (\"BTC\") supplemented by Bittensor (\"TAO\") in support of the Company's operating business.\n● A portion of the proceeds of the Fundraise will be allocated into BTC and TAO within the Company's treasury and for immediate working capital needs and strategic marketing initiatives.\n● Subject to regulatory approval, the balance of the proceeds from the Fundraise are proposed to be utilised to secure a further investment of £450,000 into Alludium (\"Second Investment\"), as per the Company's announcemen...