Vela Technologies #VELA – Update re. investment in EnSilica July 29, 2022 – Posted in: Vela Technologies Plc (VELA) – Tags: ,

Vela Technologies #VELA – Update re. investment in EnSilica

The Board of Vela (AIM:VELA), an AIM-quoted investing company focused on early-stage and pre-IPO disruptive technology investments, notes the announcement made today by EnSilica PLC (“EnSilica”) regarding EnSilica’s intention to seek admission of its shares to trading on AIM.

As announced on 17 January 2022, Vela invested £750,000 in EnSilica in the form of convertible loan notes (“the Loan Notes”) as part of a pre-IPO funding round. The Loan Notes and interest accrued since the investment was made automatically convert on an IPO of EnSilica into new ordinary shares in EnSilica at a 12 per cent. discount to the price at which such shares are subscribed in the IPO.

It is anticipated that on Admission, Vela will be interested in 1,764,788 ordinary shares in EnSilica representing 2.3 per cent. of the issued share capital.

An extract from the announcement issued by EnSilica is set out below. The full announcement can be found here: https://www.londonstockexchange.com/news-article/market-news/placing-and-proposed-admission-to-trading-on-aim/15460179