Decidr AI Industries Secures AU$15 Million Through Placement; Shares Fall 8%

MT Newswires Live

05/06

Decidr AI Industries (ASX:DAI) has secured binding commitments to raise AU$15 million before costs through the placement of 24.6 million shares at AU$0.61 each, representing a 9.8% discount to its 10-day volume weighted average price, according to a Wednesday Australian bourse filing.

The funds will be used to support the productization and development of a knowledge security platform within Sugarwork, expand into untapped markets through mergers and acquisitions, and invest in sovereign compute capabilities, patents, and research publications, the filing added.

The company's shares fell 8% in recent Wednesday trade.

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