AITX Announces Significantly Improved Equity Financing Agreement
Artificial Intelligence Technology Solutions (OTCPK:AITX) has announced a significantly improved equity financing agreement, expected to be in effect the week of July 22, 2024. The new agreement is estimated to increase the amount of money received per share sold by 25-35%, reducing share dilution for investors.
Key improvements include:
- Purchase price set at 95% of the lowest 5-day VWAP, up from 80% of the lowest 9-day traded price
- Potential for 25-35% increase in net cash per share purchase
- Enhanced financial flexibility for growth and innovation
AITX, through its subsidiary Robotic Assistance Devices (RAD), is revolutionizing the $25 billion security industry with AI-driven Solutions-as-a-Service, offering businesses 35-80% cost savings compared to traditional manned security models.
- New equity financing agreement increases money received per share sold by 25-35%
- Reduced share dilution for investors
- Improved purchase price terms: 95% of lowest 5-day VWAP vs. 80% of lowest 9-day traded price
- Enhanced financial flexibility for growth and innovation
- Potential for 25-35% increase in net cash per share purchase
- None.
Detroit, Michigan, July 19, 2024 (GLOBE NEWSWIRE) -- Artificial Intelligence Technology Solutions, Inc., (the “Company”) (OTCPK:AITX), a global leader in AI-driven security and productivity solutions for enterprise clients, is pleased to announce that a new equity financing agreement is expected to be in effect the week of July 22, 2024.
The Company estimates that the new agreement will increase the amount of money it receives per share sold to its institutional investor by between 25
Under the new agreement the purchase price is
Based on recent history, the lowest VWAP is usually at minimum
“We are extremely pleased with the terms of this new equity financing agreement,” said Steve Reinharz, CEO/CTO of AITX. “Negotiating this agreement at a lower cost and reduced share dilution compared to previous financings is a significant achievement for us and a testament to the community that is supporting our mission of bringing AI-enabled security and safety solutions to the world. This will immediately and directly enhance our financial flexibility, improving our ability to continue funding for the acceleration of growth and innovation. It's a win-win situation that benefits both our company and our shareholders.”
AITX, through its subsidiary, Robotic Assistance Devices, Inc. (RAD), is redefining the
About Artificial Intelligence Technology Solutions (AITX)
AITX is an innovator in the delivery of artificial intelligence-based solutions that empower organizations to gain new insight, solve complex challenges and fuel new business ideas. Through its next-generation robotic product offerings, AITX’s RAD, RAD-R, RAD-M and RAD-G companies help organizations streamline operations, increase ROI, and strengthen business. AITX technology improves the simplicity and economics of patrolling and guard services and allows experienced personnel to focus on more strategic tasks. Customers augment the capabilities of existing staff and gain higher levels of situational awareness, all at drastically reduced cost. AITX solutions are well suited for use in multiple industries such as enterprises, government, transportation, critical infrastructure, education, and healthcare. To learn more, visit www.aitx.ai, www.radsecurity.com, www.stevereinharz.com, www.radgroup.ai, www.raddog.ai, and www.radlightmyway.com, or follow Steve Reinharz on Twitter @SteveReinharz.
CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
The information contained in this publication does not constitute an offer to sell or solicit an offer to buy securities of Artificial Intelligence Technology Solutions, Inc. (the “Company”). This publication contains forward-looking statements, which are not guarantees of future performance and may involve subjective judgment and analysis. As such, there are no assurances that the Company will meet its expectations with respect to its future sales volume, becoming cash flow positive, ARR or RMR. The information provided herein is believed to be accurate and reliable, however the Company makes no representations or warranties, expressed or implied, as to its accuracy or completeness. The Company has no obligation to provide the recipient with additional updated information. No information in this publication should be interpreted as any indication whatsoever of the Company’s future revenues, results of operations, or stock price.
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Steve Reinharz
949-636-7060
@SteveReinharz
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FAQ
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