Firm Commitments Received for ~$1.5M Placement

Adisyn Ltd (ASX: AI1) (“Adisyn” or the “Company”) is pleased to announce that it has received binding firm commitments from new and existing sophisticated investors to raise $1.518 million through the issue of 46 million new fully paid ordinary shares in the Company (“New Shares”).

Highlights:

• Adisyn has received firm commitments to raise ~$1.5m via a share placement of 46 million shares at 3.3c per share.
• Supported by new and existing sophisticated and strategic investors.
• Funds raised will be used to accelerate the development of AI1's managed technology and cybersecurity businesses.
• In addition, funding will support new technology partnerships including the Collaboration Agreement with 2D Generation, a prominent semiconductor IP business, with the aim of generating next generation solutions.

AI1 Managing Director Blake Burton said: "We're delighted with the outcome of the capital raise which will allow AI1 to continue to build its existing underlying business of managed IT and cybersecurity applications for the defence industry supply chain. In addition, this inflow of capital will allow us to commit the required resources and focus on maximising technology partnerships, particularly our collaboration with 2D Generation as we look to identify opportunities that will enhance our current offering to our clients via transformational semiconductor and AI solutions."

Funds raised will be used towards the development and delivery of solutions for AI1's managed technology and cybersecurity businesses, along with general working capital. In addition, funding will support new technology partnerships including the Collaboration Agreement with 2D Generation (ASX: 15 July 2024), a prominent semiconductor IP business, with the aim of generating next generation solutions.

Allotment of the New Shares is expected to occur on or about 2 August and will rank pari passu with existing AI1 shares on issue.

Adisyn’s corporate adviser, Sandton Capital Advisory Pty Ltd (Sandton), acted as the Sole Lead Manager and Book Runner on the placement. A Lead Manager Mandate was signed with the Company which entitles Sandton to receive fees as follows; a Lead Manager fee of 2% of all funds raised under the placement, a capital raise fee of 4% of all funds raised under the placement, and the issue of 5 million fully paid ordinary shares in the Company to Sandton and/or its nominees, the issue of which is subject to shareholder approval.

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