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LONDON - Catenai PLC (AIM:CTAI), a digital media and technology provider, has completed its second tranche investment of £450,000 in Alludium Ltd, the company announced Thursday.
The investment follows shareholder approval for share allotment authorities to complete the fundraise that was announced on June 26. Catenai has subscribed for 681,663 ordinary shares in Alludium at 73 pence per share, according to the press release statement.
Following this transaction, Catenai now holds approximately 13% of Alludium’s issued share capital. The investment includes a bonus share issuance to Catenai equal to 10% of the investment made, as per terms announced on April 11.
Alludium is described as a pre-revenue technology company currently building a platform and moving toward commercial launch. The company reported a loss of approximately £33,000 for the year ended August 31, 2024, in its first full year results.
John Frizelle, CEO of Alludium, stated that the funding would "accelerate our development roadmap as we prepare for our public launch."
John Farthing, CEO of Catenai, noted that the investment comes at a "significant time after securing its first pilot customer and advancing from stealth development towards full product launch."
The announcement was classified as containing inside information for the purposes of the UK Market Abuse Regulation.
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