Capital raising

Metals X and D’Yquem Investments are just underwriting the placement - they may not end up being allocated any shares at all.

The underwriting is more a confirmation to the ASX that Brainchip will be receiving 100% of the required funds, and it is effectively final confirmation that the acquisition is all wrapped up in a neat little package.

The placement will mostly be allocated to institutional investors involved in the recent international roadshows.

From the announcement:

"Aziana has recently completed a comprehensive roadshow in North America, Asia and Australia and has subsequently received support for the capital raising from across the three continents.

Neil Rinaldi, CEO and Executive Director of Aziana said,

“We are very happy to receive support from our two largest shareholders in assisting us to fulfill the fiscal requirements to complete the BrainChip transaction.

We have also been overwhelmed by the show of support from the funds we met on our recent
roadshow which illustrates their firm belief in BrainChip’s technology"

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So again just to clarify, the placement WILL be taken up in parts by various funds and perhaps sophisticated investors that attended the road shows. This will most likely include some US fund managers.
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