Substrate AI has registered in the Mercado Alternativo de Renta Fija (MARF) its first promissory notes program for an amount of up to 10 million euros. With this issue the company diversifies its sources of financing by accessing the fixed income markets and prepares to face new challenges in its development after having grown by 283% in the first half of the year in data reviewed by EY and presenting for the first time black numbers in all its lines.
The issue has received a BB rating from Ethifinance This demonstrates the work done by the company to, in the midst of very strong growth, stabilize the numbers, deliver positive Ebitda and lay the foundations for continued healthy growth using various sources of financing.
“With this issuance we take a further step in creating a strong and well-funded company to be able to capture the great opportunity offered by the creation of a new sector around Artificial Intelligence. We have been working on this project since its birth in 2018 and we want to play an important role in the growth and settlement of this new sector in Europe by relying on our Serenity Star product and its ability to transform companies by making them more efficient and profitable” notes José Iván García, CEO of Substrate AI
The notes will have a nominal amount per unit of EUR 100,000 and will be addressed to qualified investors from states belonging to the European Economic Area as defined in Article 2. (e) of Regulation (EU) 2017/1129 of the European Parliament and, in particular, from Spain. The company will use them to finance working capital and investments.
The incorporation of the base disclosure document has been coordinated by Didendum EAF as registered advisor and will be placed with investors by Link Securities.
