Substrate AI, the Spanish artificial intelligence company listed on the BME Growth, will list its healthcare subsidiary, Cuarta Dimensión Médica SL, (4D Médica) in London on the LSE through a Reverse Takeover (RTO).
A Reverse Takeover is a transaction in which a company, which is already listed, buys the unlisted company whose shareholders become, after the transaction, shareholders of the resulting company. Upon completion of the transaction, which is pending completion of the necessary formalities to be completed, the acquiring company, Seed Capital Solutions PLC, will change its name to 4D Medical PLC becoming the de facto listed healthcare subsidiary of Substrate AI.
The company with which Substrate AI and 4D Médica have reached an agreement, Seed Capital Solutions PLC, is a company created for this purpose, to carry out a Reverse Takeover with another unlisted company, and its shares are purchased on the LSE (London Stock Exchange) in London, the main London market.
Substrate AI to list 4D Medical in London at £33 million (39 million euros) valuation
The agreement provides for a valuation of 4D Medical 33.3 million (€39 million) while Seed Capital will be valued at £3.7 million. This will give Substrate AI a 68.4% stake in the resulting company and existing Seed Capital shareholders will retain a 10% stake. Coinciding with the exit, the company will undertake a £2 million capital raising to bring in new investors and fund the transaction.
With this operation, Substrate AI takes a step further in the fulfillment of its strategic plan presented in 2024 in which it contemplated the IPO of its subsidiaries so that, on their own, they can raise the necessary capital to grow once they have been transformed with artificial intelligence.
It should not be forgotten that Substrate AI bought 4D Medical's 70% for €2 million in 2022, later selling it DiagXimag, which it bought in 2023 for €2,600,000, bringing Substrate AI's total investment in these companies to €4.6 million. A company now valued at £33.3 million (€39 million) once transformed with artificial intelligence.
About Substrate AI
Substrate AIwhich has been listed on BME Growth since May 2022, operates as a holding company for companies that apply artificial intelligence to generate efficiencies and accelerate the transition to a more sustainable economy. It is currently developing a strategic plan that consists of listing its subsidiaries and initiating the development of its computing infrastructure, with its first AI factory in Talavera de la Reina, which it intends to build soon.
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