Closing of Funding Package & ATM Facility
Pri0r1ty Intelligence Group PLC has successfully closed a £1.25 million funding package via a Convertible Loan Note and has entered into an At-The-Market (ATM) Facility with Global Investment Strategy UK Limited. The ATM Facility allows the company to raise funds through share sales, with net proceeds of 97.5% of gross sale proceeds going to the company after broker fees and settlement costs. This facility, with an initial term of 12 months, is intended to provide flexible capital to repay the loan, fund ongoing operations, and support the business's path to cash flow positivity, with the objective of minimising shareholder dilution.
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Pri0r1ty Intelligence Group PLC (AIM: PR1, OTC: PRIAF), the AI focused business delivering growth solutions to SMEs, is pleased to announce that all conditions precedent to funding under the £1.25 million (gross) Convertible Loan Note agreement announced on 11 June 2026 ("CLN") have now been satisfied and drawdown of funds is scheduled to occur in the next two business days. In connection with this and as included in the 11 June notification, the Company has now signed an ATM Facility with Global Investment Strategy UK Limited ("GIS"), pursuant to which the Company may raise funds through share sales carried out by GIS. The terms remain as set out in the 11 June notification and are more fully set out below.
Under the ATM Facility, new ordinary shares of nominal value £0.003 ("Ordinary Shares") in the capital of the Company ("ATM Shares") will be made available for sale via GIS on a tranche-by-tranche basis. Any share sales to be made will not be below a minimum price to be set by the Company for each tranche. It is the intention of the parties that the ATM Shares should only be sold when market conditions are suitable and with a view to enhancing the value of the Company for all shareholders. GIS will deduct a broker fee and properly and reasonably incurred settlement costs from the gross proceeds of the sale of ATM Shares, with the net proceeds, equal to 97.5% of the gross sale proceeds, being paid to the Company following admission of ATM Shares.
Periodically, once a tranche of ATM Shares has been placed under the ATM Facility, the Company will issue an RNS to confirm the number of ATM Shares issued, with details of their average sale price and the net proceeds raised by the Company. Once issued, application for admission to trading on AIM will be sought for each tranche of ATM Shares.
The initial term of the ATM Facility shall be 12 months. The Company is under no obligation to allot and issue ATM Shares during the term, and any use of the ATM Facility will be at the discretion of the board of directors of the Company, in staged and controlled ATM Tranches, with the objective of minimising shareholder dilution.
The purpose of the ATM Facility is to provide the Company with a flexible mechanism to seek to issue new shares and raise capital at prevailing market prices to repay the amortisation of the £1.25 CLN. Any excess proceeds beyond meeting the CLN repayments, along with the proceeds of the CLN itself, can be used to fund the Company's ongoing operations and provide the runway necessary for the business to become cash flow positive, supporting continued scaling and the ability to capitalise on emerging opportunities from a position of financial stability.
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Nominated Adviser Statement
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