Business
Result of Fundraise
Result of Fundraise.
About this update from Seeing Machines Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 2040T\n Seeing Machines Limited\n 23 November 2021\n \n \n \n \n NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, NEW ZEALAND OR IN ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW. \n \n \n \n THIS ANNOUNCEMENT IS NOT AN OFFER TO SELL OR A SOLICITATION TO BUY SECURITIES IN THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA AND NEW ZEALAND\n \n \n \n OR IN ANY OTHER JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL OR CONTRAVENE ANY REGISTRATION OR QUALIFICATION REQUIREMENTS UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR ANYTHING CONTAINED HEREIN SHALL FORM THE BASIS OF, OR BE RELIED UPON IN CONNECTION WITH, ANY OFFER OR COMMITMENT WHATSOEVER IN ANY JURISDICTION. \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE UK VERSION OF REGULATION 2014/596/EU.\n \n \n \n \n \n 23 November 2021\n \n \n Seeing Machines Limited\n \n \n (\"Seeing Machines\", the \"Company\")\n \n \n Result of c. US$40 million1 Placing and Subscription and result of Retail Offer\n \n \n \n \n \n Significantly oversubscribed Fundraise raises a total of c.US$40 million net of fees\n \n \n \n \n \n Seeing Machines Limited (AIM: SEE), the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety\n , is pleased to announce that it has successfully raised gross proceeds of approximately US$41 million\n \n \n 1\n \n \n (c.£30.4 million) pursuant to the Placing and Subscription, of which approximately US$1 million (c.£0.7 million) was pursuant to the Retail Offer (together the \"Fundraise\"). In aggregate, a total of 277,123,492 new ordinary shares\n \n \n 1\n \n \n of no par value each (the \"Ordinary Shares\") will therefore be issued pursuant to the Fundraise (the \"Fundraising Shares\") at an issue price of 11 pence per Fundraising Share (\"Issue Price\").\n \n \n \n \n \n Magna International Inc., (NYSE: MGA) (a large, multi-national Canadian mobility technology company for automakers and an existing customer of Seeing Machines) invested US$10m as...