BrainChip Holdings Ltd (ASX:BRN) Announces Capital Call and Operational Expansion
Capital Call Details
BrainChip Holdings Ltd (ASX:BRN) has issued a capital call notice to LDA Capital to sell up to 40 million shares. The available funding under the LDA Agreement is AUD $74.8 million. The company is obligated to advance a minimum of 40 million shares by 30 June 2025, with the pricing period running from 7 March 2025 to 30 April 2025 or until fully subscribed.
Use of Funds
The capital will be utilised to execute BrainChip’s product roadmap, including the expansion of proprietary TENNs-based space state models for audio and video applications. Enhancements to the Akida 2.0 platform are underway, targeting a release in the second half of 2025. Additionally, the company will enhance market penetration efforts with new customer support products and increased staffing to facilitate the adoption of the Akida platform and TENNs models.
Operational Expansion
BrainChip has commenced a search for a Senior Operations Manager to support its operations and standardise processes around product development. In the interim, CFO Ken Scarince will oversee these initiatives alongside his current duties, accelerating the company’s transition into a process-driven organisation.
Motley Fool contributor Matt Burgess has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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