117 Million Shares Issued at $0.02 in Codeifai’s Latest Placement
Codeifai Limited has raised $2.35 million through a share placement to fund key acquisitions and expand its footprint in quantum computing and AI. The move signals a strategic push towards U.S. market engagement and commercialisation of cutting-edge technology.
- Raised $2.35 million via placement of 117.65 million shares at $0.02 each
- Placement includes free attaching options exercisable at $0.04, pending shareholder approval
- Funds earmarked for AntennaTransfer.io acquisition and business development
- Plans to explore bonus option entitlement for existing shareholders
- Potential U.S. listing considered to support quantum and AI ecosystem growth
Capital Raise to Fuel Growth
Codeifai Limited (ASX, CDE) has successfully secured $2.353 million through a share placement, issuing over 117 million new shares at a price of two cents each. This capital injection is designed to underpin the company’s strategic growth initiatives, particularly the commercialisation of its proposed acquisition, AntennaTransfer.io, which will be rebranded as QuantumAI Secure. The placement also includes attaching options exercisable at four cents, subject to shareholder approval, offering investors potential upside over the next three years.
Strategic Acquisitions and Market Expansion
The funds raised will support Codeifai’s business development efforts and working capital needs as it pursues two key acquisitions, QuantumAI Secure and Trust Codes. These moves align with the company’s ambition to deepen its presence in the rapidly evolving quantum computing and artificial intelligence sectors. Notably, Codeifai is contemplating a listing in the United States, recognising the U.S. as the epicenter of the quantum and AI ecosystems. While this remains subject to board approval and regulatory criteria, such a listing could significantly enhance the company’s access to capital and strategic partnerships.
Shareholder Incentives and Capital Structure
In a nod to its existing investors, Codeifai is considering a bonus option entitlement issue to reward long-term shareholder support, pending board and ASX approval. The company’s capital structure is set to expand considerably, with additional shares and options to be issued related to acquisitions, loan settlements, and arrangements with previous investors. Oakley Capital acted as lead manager for the placement, earning a capital raising fee and broker options, also subject to shareholder approval.
Looking Ahead
The placement settlement is scheduled for early August, with share allotment following shortly after. Shareholders will soon be asked to approve several resolutions at the upcoming general meeting, including the issuance of placement options and further capital raises. These developments mark a pivotal moment for Codeifai as it positions itself at the intersection of AI and quantum technology, sectors poised for transformative growth.
Bottom Line?
Codeifai’s capital raise and acquisition strategy set the stage for a bold expansion into the quantum AI frontier, with shareholder approvals and U.S. market ambitions next to watch.
Questions in the middle?
- Will shareholders approve the attaching options and future placements as planned?
- How will the proposed U.S. listing impact Codeifai’s valuation and investor base?
- What are the timelines and integration plans for the AntennaTransfer.io and Trust Codes acquisitions?
