Brainchip Holdings Ltd: Third Revision to Agreement with LDA Capital

BrainChip Holdings Ltd (ASX: BRN) has recently extended its agreement with LDA Capital LLC (LDA Capital) via a third amendment, ensuring continued access to capital until December 2024. This amendment imposes a new condition, requiring a Minimum Drawdown Amount of AU$12 million by December 31, 2024, alongside the ongoing AU$2.7 million drawdown, expected to finalize in Q1 2024.

As per the terms, the company commits to issuing 40 million Collateral Shares by March 31, 2024, or at the next Capital Call, utilizing its Listing Rule 7.1 placement capacity. The purchase price for LDA Capital's shares remains fixed at 91.5% of the average daily Volume Weighted Average Price. Crucially, this amendment doesn't introduce any additional fees, aiming to support BrainChip's financial needs and fortify its capital position without imposing further financial burdens.

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