Proposed Convertible Loan Note Issuance

Acceler8 Ventures PLC

23 January 2025

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

23 January 2025

ACCELER8 VENTURES PLC

Proposed Convertible Loan Note Issuance

Acceler8 Ventures Plc (LSE: AC8, "AC8" or the "Company"), the Main Market listed acquisition company, announces that further to the Company's Proposed Acquisition of Verifyyed, Inc. announced on 17 December 2024, it is proposing to raise up to £750,000 through the issuance of unsecured convertible loan notes (the "Notes").

Proceeds from the Notes will be used to support the diligence and acquisition process, and it is anticipated that they will be issued on the following terms:

·	An accrued coupon of 8 per cent. per annum which shall be rolled until the conversion of the Notes
·	Automatic conversion of the Note principal and accrued interest into ordinary shares of the Company at the earlier of completion of the Proposed Acquisition, and three years from the date of Note issuance
·	A conversion price of £1.00 per ordinary share

The Company will make further announcements in due course, as appropriate.

Inside Information

This announcement contains inside information as defined in Regulation (EU) No. 596/2014 on market abuse which is part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and is made in accordance with the Company's obligations under article 17 of MAR. The person responsible for arranging the release of this announcement on behalf of AC8 is David Williams, Chairman of AC8.

Enquiries:

Tessera Investment Management Limited
Tony Morris	[phone]

 

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