Company Update July 05 2017
Update On Capital Raise & Listing and Business Strategy
Arria NLG plc, a leader in Artificial Intelligence and Natural Language Generation (“NLG“), is pleased to provide the following updates to its capitalization and listing plans, and business strategy. This and other announcements will be made via the Company’s website and via email to subscribers of ARRIA NLG INVESTOR NEWS. To subscribe, please go to http://info.arria.com/investor-news-sign-up
Please also visit the Company’s website for more information on the Company’s stock and status: https://www.arria.com/investor-center/
CAPITAL RAISE & LISTING UPDATE
As previously announced, in advance of the proposed NZX Listing, Arria NLG appointed Rainmaker Securities, a Chicago-based registered broker-dealer that specializes in sourcing capital for growth issuers, particularly in the technology sector, to assist in a US private offering to accredited investors as part of a subscription offer of NZ $25 million.
The subscription offer consists of the issue of short-term notes that convert to shares and options of Arria NLG Limited upon listing on NZX in consideration of a minimum investment per investor of the New Zealand dollar equivalent of US $500,000. The offer was set at NZ $1.00 per Offer Bundle (“Bundle”). The Bundle includes 1 ordinary share and 2 share options.
Rainmaker Securities has reported they are well progressed with over 20 investment firms that are now in a due diligence phase and expect to complete the offer in Q3 2017.
The NZX listing will involve the Bundle securities (issued ordinary shares and options) of Arria NLG Limited, the New Zealand company that will become the holding company (wholly owning parent) for the Arria group including Arria NLG plc upon completion of the planned reorganization (statutory scheme of arrangement under the UK Companies Act 2006). Arria NLG Limited will not initially list its securities on the Australian Securities Exchange (ASX) and will not float an initial public offering with the listing of the Arria NLG Limited securities. The pending subscription offer through Rainmaker Securities is intended to raise sufficient capital to meet the group’s medium-term needs.
To accommodate the revised timeline for the subscription offer, the short-term Arria NLG plc note issued in advance of the Bundles will have a maturity of 30 September 2017 instead of 30 June 2017, and the expiration of the offer options exercisable at NZ $1.00 per share will be 15 September 2021 instead of 15 June 2021.
The exact date of the NZX listing will be shared with shareholders once it has been finalized with the appropriate regulatory agencies.
STRATEGY & PRODUCT UPDATE
As part of our strategy to commercialize our patented NLG technology and scale our business, we have successfully launched Arria Natural Language Generation (NLG) Tools in a Software Development Kit (SDK). Arria is the first company to bring an NLG SDK to market.
These NLG Tools are built upon the years of research from Arria’s world-renowned scientists, Professor Ehud Reiter and Dr. Yaji Sripada, and have been refined with over 200 years of combined development effort building applications. They allow Arria developers and partners to build and configure NLG Applications.
These NLG Applications are the connectors — they connect other people’s data to our NLG platform. They are specifically tailored applications (either verticals or industry specific) created for the precise needs of clients, partners and developers using the most advanced language generation toolkit in the world.
While we offer Professional Services where we build custom applications for specific clients and partners, our emphasis is on Accelerator Services. Accelerator Services are being made available to all developers (Arria developers, partner developers and the worldwide community of 18 million developers) and include: 1) Pre-Built Modules, such as FP&A Reports, Portfolio Analysis Reports, Pharma CSR Reports, Weather Reports, and other Industrial Control System Reports, 2) Purpose-Built Macroservices, and 3) Microservices.
These Tools and Applications are available cloud-based and on-premises, which is unique. Arria is the only company in the world to provide Tools and Applications such as these both in the cloud and on-premises.
We look forward to keeping you apprised of our ongoing business expansion plans as we continue to bring aboard significant new clients and partners.