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Rezolve Ai Inks Three Key Partnerships, Expanding The Customer Base For Its AI-Powered Platform For E-Commerce Businesses

Benzinga

By Meg Flippin, Benzinga Just like many other industries, the potential of AI is helping transform e-commerce. Technology is helping make static pages, slow customer service and cumbersome checkouts a thing of the past. Customers today want smart recommendations, real-time help and speedy checkout. AI has the potential to give retailers and small businesses that recognize these needs a competitive edge over those that don’t. Conversational commerce – using messaging apps, chatbots, AI voice assistants and other technology to communicate with customers – is underpinning a new way of shopping. After all, by incorporating AI, speech recognition, natural language processing and machine learning, e-commerce merchants can offer a more personalized and engaging experience. Conversational commerce can boost sales, improve the user experience and provide support 24/7. Not surprisingly, the conversational commerce market is big and growing, projected to grow at a CAGR of 11% from now until 2028. Rezolve At The Forefront This more engaging approach to e-commerce is becoming a reality thanks to companies like Rezolve Ai (NASDAQ: RZLV), a U.K.-based AI-powered platform and mobile solution provider with its proprietary LLM serving e-commerce businesses. Rezolve Ai’s Brain enables online merchants to optimize their digital stores with a conversational AI-powered shopping interface and personalized product recommendations that get smarter each time a customer visits the website. The company’s real-time chatbots and Instant Checkout experience help e-commerce businesses close sales quickly in 95 languages. Rezolve Ai’s platform, which consists of Brain commerce, Brain checkout and Brain Assistant, seems to be gaining traction in the marketplace, with the company inking collaborations and boosting its pipeline. At last check, Rezolve Ai said more than 100 client discussions are ongoing, with the company targeting top merchants within e-commerce and retail. All told, Rezolve Ai thinks there is a $480 billion to $500 billion addressable market for it to go after. Momentum Building in Partnership Channel Its deal-making has been on display in recent days and weeks, with the company most recently inking a deal with Creative Dock, the corporate venture builder and digital innovator that counts l arge financial service and consumer companies, and leading telcos across Europe and the Middle East as customers. Under the deal, Creative Dock will bring Rezolve’s AI to its commerce customers, giving Rezolve access to Creative Dock’s customers located in 52 countries – making this possibly its most significant deal yet. "As pioneers in AI for commerce, we are thrilled to join forces with Creative Dock to redefine how businesses engage with their customers," said Daniel M Wagner, CEO and Chairman of Rezolve Ai, when announcing the deal. "Together, we will empower companies to fuel growth, unlock new digital opportunities, and elevate the customer experience." Rezolve Ai's "brainpowa" suite, including Brain Commerce, Brain Assistant and Brain Checkout, will be integrated with Creative Dock’s venture-building services to offer comprehensive AI-powered solutions for businesses of all sizes. Rezolve said the partnership represents a pivotal opportunity to drive digital innovation and transformation in the global commerce sector. Another big deal is its partnership with ePages, a provider of e-commerce software to retailers in Europe. ePages tapped Rezolve Ai to enhance the e-commerce experience for its small and medium-sized business customers. As part of the agreement, Rezolve Ai will provide its cutting-edge products, including Brain Assistant and Brain Commerce, to ePages’ extensive network of merchants, while ePages will utilize its marketing and promotion channels, such as the ePages App Store, to sell Rezolve Ai’s products to its existing and future merchant base. “This partnership represents a significant milestone in our mission to revolutionize the eCommerce industry,” said Daniel M. Wagner, CEO of Rezolve Ai, when announcing the collaboration in late August. “By combining ePages’ powerful eCommerce software with Rezolve’s cutting-edge AI technology, we are empowering businesses to provide personalized shopping experiences and real-time customer support. Together, we expect to redefine the way businesses engage with customers and drive sales.” Rezolve also just struck an alliance with OXID, a provider of e-commerce solutions to more than 2,000 tier 1 and tier 2 retailers based in Germany, Austria and Switzerland. OXID's key focus in the partnership is to introduce Brain Commerce to its client base. By integrating Rezolve Ai's Brain Suite solution, OXID aims to enhance customer engagement, increase conversion rates and elevate the overall e-commerce experience for its clients, Rezolve said. Making Inroads Into New Markets Then there’s Rezolve’s deal with SPH AG, a leading IT and consulting company focused on the fashion, sports, lifestyle and retail sectors. SPH will deploy Rezolve’s proprietary AI technologies across its customer base. In addition to offering tech consulting, SPH provides comprehensive support for retail companies undergoing digital transformation. By integrating strategic advice and process optimization with the implementation of innovative technologies, SPH aims to distinguish itself from other ERP providers. Rezolve intends to capitalize on that prowess. “We are thrilled to collaborate with SPH AG to bring our cutting-edge AI solutions to the fashion, sports, lifestyle and retail industries,” said Wagner. “Our partnership will enable companies to transform their operations and drive exponential growth in the digital age.” All these partnerships showcase how Rezolve intends to grow the business, aiming to achieve annual recurring revenue of $100 million by the end of 2025. Rezolve says that growth will be fuelled by strategic partnerships and an expanding roster of enterprise clients. eCommerce is going through a digital overhaul. Shoppers want a more engaging, personalized and convenient experience. Rezolve says its AI-powered e-commerce platform provides that. With growth on its mind, customers in the pipeline and partnerships in the works, Rezolve is proving that true. Featured photo by Shoper on Unsplash. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

September 18, 2024 08:30 AM Eastern Daylight Time

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I-ON Digital Corp. Announces Shareholder Update and Management Discussion

I-ON Digital Corp.

I-ON Digital Corp. (the “Company”) (OTC: IONI), a leading innovator in gold, precious metals, and RWA (real-world asset) digitization, tokenization and digital banking solutions, is pleased to announce the scheduling of a Shareholder Update and Management Discussion on Friday, September 20, 2024, at 5:00PM EDT (2:00PM PDT). The discussion will provide shareholders with an opportunity to hear directly from the Company's executive team about the 2023 and 2024 year-to-date financial results and as reported in the Company's recent filings with the U.S. Securities and Exchange Commission (“SEC”) and further updates on the Company's strategic direction for the balance of 2024 and 2025. "We are looking forward to discussing the Company ’ s financial results and sharing our strategic vision with our shareholders," said Carlos X. Montoya, CEO of I-ON Digital Corp. "Our company has made significant progress in advancing our asset digitization and tokenization solutions, and we look forward to discussing our achievements and future plans with our valued shareholders." Shareholders are encouraged to review the Company ’ s Annual Report on Form 10-K for the year ended December 31, 2023, along with 2024 quarterly reports for the first and second quarters which are available on the SEC's website and on the company's investor relations page at https://iondigitalcorp.com/. To participate in the shareholder discussion, please follow this link https://iondigitalcorp.com/ion-digital-corp-investor-relations/. About I-ON Digital Corp. I-ON Digital Corp. (OTC: IONI) is a leading innovator in gold, precious metals, and RWA (real-world asset) digitization, tokenization and digital banking solutions. Our services are engineered to provide a secure, fast, transparent, and institutional-grade ecosystem that digitizes documentary evidence of gold reserve ownership into secure, asset-backed digital securities. This process brings liquidity and accepted value to a wide array of asset classes. Additional information is available at https://iondigitalcorp.com/. Forward-Looking Statements This news release contains forward-looking statements involving risks and uncertainties, which may cause results to differ materially from the statements made. When used in this document, the words "may," "would," "could," "will," "intend," "look to," plan," "anticipate," "believe," "estimate," "expect," "seek," "potential," "outlook," and similar expressions are intended to identify forward-looking statements. Such statements, including, but not limited to, I-ON's current views with respect to future events and its financial forecasts, are subject to such risks and uncertainties. Many factors could cause actual results to differ materially from the statements made, including those risks described from time to time in filings made by I-ON with the Securities and Exchange Commission. In addition, there is uncertainty about the further spread of the COVID-19 virus or new variants thereof or the occurrence of another wave of cases and the impact it may have on the Company's operations, the demand for the Company's products, global supply chains, and economic activity in general. These and other risks and uncertainties are detailed in the Company's filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. Statements in this news release regarding past trends or activities should not be taken as a representation that such trends or activities will continue. I-ON does not intend or assume any obligation to update these forward-looking statements other than as required by law. Contact Details I-ON Digital Corp. Investor Relations +1 866-440-2278 IR@iondigitalcorp.com Company Website https://iondigitalcorp.com

September 18, 2024 08:00 AM Eastern Daylight Time

Mothers' Milk Bank California Welcomes New Board Members

The Mothers' Milk Bank

Mothers' Milk Bank California (MMBCA) today announced the appointment of three community leaders to its Board of Directors. These new members bring a diverse range of expertise and a shared passion for supporting vulnerable infants, further bolstering MMBCA's mission to provide life-saving donor human milk to those in need. Their leadership will play a critical role in advancing our efforts to ensure every baby has access to the vital nutrition they require. "Our new board members bring invaluable experience and a deep commitment to our mission. Their diverse backgrounds and shared dedication to supporting vulnerable infants will strengthen our efforts to provide life-saving donor human milk to those who need it most. We are excited to welcome them to the MMBCA family as we continue to work towards ensuring every baby has access to the vital nutrition they need,” Katie Anderson, Board Chair, Mothers' Milk Bank California Kristin is Senior Director of Development and Communications at the National Fragile X Foundation, a patient advocacy organization that supports families living with Fragile X, a group of conditions associated with alterations of the FMR1 gene on the X chromosome. She has over 20 years of experience in fundraising and non-profit management, event planning, and board and volunteer development. She earned a BA in Economics from UC Berkeley and a MA in Public Administration from the Middlebury Institute of International Studies. Peter Bailinson is a SF-based entrepreneur. He's worked at a variety of social impact organizations over his career, most recently as Director of Strategy and Business Operations at Atticus, a public interest law firm. Previously he was an Engagement Manager at McKinsey & Company and managed their global LGBTQ+ initiatives. He graduated with an MBA from Stanford University’s Graduate School of Business and a BA from Columbia University. He's passionate about making it easier for Americans to start and grow families and has conducted extensive research on human milk sharing. Lauren Morgan is a nonprofit professional currently in Program Operations at the Energy Foundation. She began her involvement with Mothers’ Milk Bank California as a donor, giving hundreds of ounces of breast milk. Passionate about scaling nonprofits, Lauren previously led fundraising at GRID Alternatives and managed youth programs at Planet Granite. She also served in AmeriCorps, developing a community garden program in Boston Public Schools. Lauren holds degrees in Religious Studies and Environmental Studies from Brown University and serves on the board of Weekend Adventures. For more information about Mothers' Milk Bank California and our new board members, please visit MothersMilk.org or contact Jennifer Benito at jbenito@MothersMilk.org About Mothers' Milk Bank California Founded 50 years ago, Mothers’ Milk Bank California is a leading nonprofit dedicated to providing screened, donated human milk to babies in need. As a founding member of the Human Milk Banking Association of North America (HMBANA), it helped set standards for nonprofit milk banks across North America. The organization collects, pasteurizes, and distributes safe human milk to hospitals and families, ensuring essential nutrition for infants. Committed to improving lives, Mothers’ Milk Bank California supports families and advances neonatal care. More information at MothersMilk.org ### Founded 50 years ago, Mothers' Milk Bank California is a leading nonprofit dedicated to providing screened, donated human milk to babies in need. As a founding member of the Human Milk Banking Association of North America (HMBANA), it helped set standards for nonprofit milk banks across North America. The organization collects, pasteurizes, and distributes safe human milk to hospitals and families, ensuring essential nutrition for infants. Committed to improving lives, Mothers' Milk Bank California supports families and advances neonatal care. Contact Details Jennifer Benito-Kowalski +1 408-831-7276 jbenito@mothersmilk.org Company Website https://camilkbank.org/

September 18, 2024 06:00 AM Eastern Daylight Time

Marek Frantsuzov Unveils Premium Dropshipping Services, Offering Aspiring Entrepreneurs a New Path to Online Success

Rev Up Marketers

Marek Frantsuzov, a seasoned entrepreneur and leader in the dropshipping industry, has announced the launch of a new dropshipping venture aimed at empowering aspiring entrepreneurs. With over four years of expertise in web development across a wide range of niches, Marek and his team are set to provide top-tier dropshipping services, offering a unique opportunity for anyone to embark on their online business journey. As an experienced entrepreneur, Marek believes anyone can successfully start an online business, and he’s committed to helping change perceptions about eCommerce. His passion for innovation and professional success has led to the formation of a dedicated team of developers and dropshipping experts, each contributing their valuable experience to this exciting new project. A Team of Experts, A Vision of Success Marek’s team, consisting of talented web developers and experienced dropshippers, is built on a foundation of collective expertise. With more than four years of hands-on experience, the team has honed its skills in developing and managing online stores across multiple sectors, providing products and services that meet the highest standards of quality. Their goal is to deliver clean, professional, and easy-to-navigate dropshipping websites that cater to both novice and seasoned entrepreneurs alike. "We wanted to bring our collective experience together and create something truly impactful," says Marek Frantsuzov. "We understand the challenges many face when entering the online business world, and we’ve designed our services to make it as simple and effective as possible." Bridging the Gap for Aspiring Entrepreneurs Marek's new venture aims to simplify the dropshipping process, offering premium services that handle the technical side of launching an online store, including website development, product sourcing, and automated systems to streamline operations. By leveraging their in-depth knowledge of web development and eCommerce, Marek and his team ensure that customers receive a fully functional and aesthetically pleasing online store ready to generate revenue. "Starting an online business doesn’t have to be complicated or overwhelming," Marek says. "Our mission is to make dropshipping accessible to everyone. With the right tools and guidance, anyone can achieve success." About Marek Frantsuzov Marek Frantsuzov is a forward-thinking entrepreneur with a passion for digital innovation and business growth. He has over four years of experience in web development and eCommerce, with a focus on providing high-quality dropshipping services to help entrepreneurs succeed in the online marketplace. Marek is committed to offering top-tier products and services that enable others to launch their online ventures with confidence. For more information about Marek Frantsuzov’s dropshipping services or to schedule an interview, please contact https://marekfrantsuzov.com/contact/. Contact Details Marek Frantsuzov Marek Frantsuzov Marek@marekfrantsuzov.com Company Website https://marekfrantsuzov.com/

September 17, 2024 10:03 AM Eastern Daylight Time

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Car Garage Expert Offers Reliable Roadside Assistance Services in Dubai

Rev Up Marketers

Car Garage Expert, a leading name in automotive repair and maintenance, is proud to announce its dependable services roadside assistance in Dubai. As a trusted and customer-centric car garage near me in Dubai, Car Garage Expert is committed to providing rapid and reliable services that ensure motorists are never left stranded on the roads. In the fast-paced environment of Dubai, drivers require quick and efficient solutions to sudden car troubles. Whether it's a flat tire, dead battery, engine breakdown, or even lockout situations, Car Garage Expert's well-equipped team is available 24/7 to address any emergency and get drivers back on the road swiftly. Our goal is to offer peace of mind to drivers across Dubai," said Muhammad Fahad Malik, CEO of Car Garage Expert. “We understand how frustrating unexpected breakdowns can be, which is why we’ve designed our roadside assistance services to be fast, reliable, and affordable. Our team is just a phone call away to ensure you’re never stuck for long.” Car Garage Expert’s state-of-the-art facility is also equipped to handle a wide range of repairs and maintenance, ensuring that drivers receive comprehensive automotive care. The garage's skilled technicians have vast experience working with all car models, making Car Garage Expert a top choice for as a trusted and customer-centric garage near me in Dubai. About Car Garage Expert: Car Garage Expert is a reputable automotive repair service provider in Dubai, offering a wide range of services including regular maintenance, engine repairs, transmission servicing, and roadside assistance. With a focus on quality, transparency, and customer satisfaction, the garage has built a solid reputation as a reliable garage near me in Dubai. Contact Details Car Garage Expert Mian Muhammad Fahad cargarageexpertdxb@gmail.com Company Website https://CarGarageExpert.com

September 17, 2024 09:21 AM Eastern Daylight Time

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Potential Catalyst Right Around The Corner? CMS To Announce Preliminary Medicare Payment For Cardio Diagnostics' Heart Disease Tests

Cardio Diagnostics Holdings, Inc

By James Blacker, Benzinga Cardio Diagnostics (NASDAQ: CDIO), the company leveraging AI to revolutionize cardiovascular disease prevention with precision epigenetics, is awaiting a crucial decision that could be a major factor in the commercial success of its flagship heart disease tests. In June of this year, the company attended an annual meeting hosted by the Centers for Medicare and Medicaid Services (CMS), where healthcare companies presented the prices they think Medicare should pay for their products and the rationale for their recommendation. At this meeting, Cardio Diagnostics submitted information and pricing recommendations for its two cutting-edge tests: Epi+Gen CHD and PrecisionCHD. Now, the company is awaiting the next important step – the CMS is expected to release its proposed payment determinations in September, based on the timeline posted by the CMS on its website. These preliminary determinations are based on the information from said annual meeting, public comments and the recommendations from the Clinical Diagnostic Laboratory Tests (CDLT) Advisory Panel. The final determinations are expected in November. "Our cutting-edge tests represent a significant advancement in the prevention, detection and management of coronary heart disease, and we are committed to making them accessible to Medicare beneficiaries," stated Meesha Dogan, PhD, CEO and Co-Founder of Cardio Diagnostics. A Trilogy Of AI-Powered Solutions For Heart Disease According to the CMS, heart disease is the leading cause of death among Medicare beneficiaries. Coronary heart disease (CHD) is the most common type of heart disease and the primary cause of heart attacks, killing 371,506 people in the U.S. in 2022. Recognizing the urgent need for advanced diagnostic tools, Cardio Diagnostics has developed state-of-the-art solutions to assess risk for, detect, manage and monitor CHD. Epi+Gen CHD is an AI-powered blood-based DNA test that evaluates genetic and epigenetic markers to assess the three-year risk for a symptomatic CHD event, while PrecisionCHD aids in diagnosing the condition. Both tests have already been assigned unique CPT codes by the American Medical Association, 0439U and 0440U, respectively, which became effective in April 2024. Coupled with the Epi+Gen CHD and PrecisionCHD tests is the Actionable Clinical Intelligence (ACI) provider-facing platform, which provides personalized insights by linking the epigenetic and genetic biomarkers evaluated by these tests to the drivers of coronary heart disease. With the crucial decision from the CMS expected this month, Cardio Diagnostics is on the brink of a breakthrough that has the potential to bring its heart disease tests one step closer to being widely accessible to Medicare patients, potentially saving the lives of millions. Click here to find out more about Cardio Diagnostics. Featured photo by Jean-Louis Paulin on Unsplash. Cardio Diagnostics is an artificial intelligence-powered precision cardiovascular medicine company that makes cardiovascular disease prevention, detection, and management more accessible, personalized, and precise. The Company was formed to further develop and commercialize clinical tests by leveraging a proprietary Artificial Intelligence (AI)-driven Integrated Genetic-Epigenetic Engine (“Core Technology”) for cardiovascular disease to become one of the leading medical technology companies for improving prevention, detection, and treatment of cardiovascular disease. For more information, please visit www.cardiodiagnosticsinc.com. Certain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. When used in this press release, the words or phrases “will”, "will likely result," "expected to," "will continue," "anticipated," "estimate," "projected," "intend," “goal,” or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, many of which are beyond the control of the Company. Such uncertainties and risks include but are not limited to, our ability to successfully execute our growth strategy, changes in laws or regulations, economic conditions, dependence on management, dilution to stockholders, lack of capital, the effects of rapid growth upon the Company and the ability of management to effectively respond to the growth and demand for products and services of the Company, newly developing technologies, the Company’s ability to compete, regulatory matters, protection of technology, the effects of competition and the ability of the Company to obtain future financing. An extensive list of factors that can affect future results are discussed in the Current Report on Form 10-K for the period ended December 31, 2022 and Form 10-Q for the period ended March 31, 2023, under the heading “Risk Factors” in Part I, Item IA thereof, and other documents filed from time to time with the Securities and Exchange Commission. Such factors could materially adversely affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed within this press release. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Gene Mannheimer - Investor Relations +1 855-226-9991 investors@cardiodiagnosticsinc.com Company Website https://cardiodiagnosticsinc.com/

September 17, 2024 09:00 AM Eastern Daylight Time

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Selling For Maximum Value: An M&A Expert’s Guide To Preparation & Process

Benchmark International

Contact Details Brittney Zoeller +1 813-898-2350 zoeller@benchmarkintl.com Company Website https://www.benchmarkintl.com/

September 17, 2024 09:00 AM Eastern Daylight Time

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From Fantasy To Reality: How BullRush's Competitions Can Help You Become A Better Trader

Benzinga

By James Blacker, Benzinga Success in trading takes much more than catching a few lucky winners – becoming consistently profitable requires strategy, discipline and a deep understanding of market dynamics. But how do you develop those skills without risking all of your hard-earned money? While trading simulators offer a low-risk environment in which to practice, traditional platforms often lack excitement and can fail to provide a real incentive to improve your trading. Enter BullRush – a gamified trading platform that combines the excitement of fantasy sports with the learning benefits of simulated trading. The Power Of Competition Competition is known to be an effective driver of human performance and has been associated with improved learning and attention. The desire to outperform others motivates us to continuously sharpen our skills, whether in business, sports or trading. Leveraging this principle, BullRush offers the chance to win real prizes through trading games and tournaments, motivating traders to bring their A-game. Even in free competitions, traders have a strong incentive to perform well because their ranking and stats can be seen by everyone. This adds an extra layer of motivation, as participants are playing not just for prizes, but also to boost their reputation. It is the power of competition that BullRush says sets it apart from simpler trading simulators, which can never fully replicate the emotional intensity of live trading. If there is nothing at stake, it can be tempting to take a reckless approach with too much risk or no clearly defined strategy. Even paying as little as $5 to enter a competition can create a sense of investment that replicates the pressure of real trading, encouraging participants to be more disciplined. With BullRush’s system of rewards, prizes and leaderboards, traders are compelled to take a more measured approach and think carefully about every trade. Learning Through Engagement Another appealing aspect of the BullRush platform is the social interaction it facilitates. Studies have shown that social interaction and sharing experiences can also improve learning and performance. Just as collaboration and feedback are essential in the classroom, interacting with other traders can accelerate the learning curve. Members of the BullRush community can connect via the trade discussion Discord channel, where traders can get together to talk about anything from market projections to strategies, tips, competition results and more. With BullRush, competitions and player profiles are public, which creates another excellent learning opportunity. Traders can review successful trades made by their competitors, gaining insights from their performance. By observing how BullRush’s top-ranked players navigate the markets, new and experienced traders alike can improve their own strategies. BullRush aims to foster a strong community where traders can connect, share strategies and grow alongside like-minded individuals. This social environment makes trading more enjoyable and enriches the learning experience. From Fantasy To Reality The competitive and social benefits of BullRush, combined with the excitement of trading, make it an ideal place to hone your trading skills. The platform’s competitions simulate real market conditions, allowing traders to test out their strategies on a variety of assets, improve trade execution and develop sound risk management skills – all without the pressure of losing real money. Ultimately, BullRush aims to help traders prepare for trading in real live markets by providing a strong foundation of knowledge and skill. Once traders have built up confidence and refined their strategy, they can transition to live trading with everything they learned on the BullRush platform. Whether you are looking to gain experience, test out new strategies or simply enjoy the fun of competing against others, BullRush has something for everyone. Think you’ve got what it takes to take home some prizes? Check out the BullRush fantasy trading platform here! Featured photo courtesy of BullRush. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

September 17, 2024 08:45 AM Eastern Daylight Time

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Amid Volatile Bitcoin Price Landscape, Bitdeer Announces Pricing Of $150 Million Convertible Notes Offering To Fund Continued Growth And Innovation

Benzinga

By Gerelyn Terzo, Benzinga The Bitcoin price has stayed true to its inherently volatile nature of late, straying from its all-time high of $74,000 reached in March. In response, blockchain companies are getting more creative about accessing capital. Bitdeer Technologies Group (NASDAQ: BTDR), a Bitcoin miner and semiconductor design company, has responded by turning to capital markets to support its expanding development pipeline, most recently unveiling the pricing details of a $150 million, five-year convertible bond offering as a means to generate cash flow for its activities. The notes sale was projected to be completed by Aug. 20. Bitdeer also extended the underwriters of the deal a 30-day option to scoop up additional notes in the aggregate principal amount of $22.5 million to offset the potential of over-allotments if demand was greater than anticipated. Bitdeer shares gained following the announcement. The notes, which represent senior, unsecured obligations of Bitdeer, will accrue interest at a rate of 8.50% per year, paid twice per year to holders. With a maturity date of August 2029, the notes will continue to grow unless converted, redeemed or repurchased by the holders, who have the option to convert until close to the maturity date. Based on the conversion rate, the bond is convertible at a 35% premium to Bitdeer stock’s price as of August 15. This means after six months, if the stock price is hovering above that level, investors can convert the bond into equity. The offering was designed for institutional investors who are interested in this asset class, but retail investors might have received an opportunity to participate through mutual funds or exchange-traded funds (ETFs), as well. Bitdeer anticipates net proceeds from the offering of $144.5 million (after discounts, commissions and expenses), translating to a greater $166.3 million upon the exercising of the underwriters’ over-allotment clause. As a leader in all things Bitcoin mining, Bitdeer plans to direct the proceeds of the offering toward its ongoing data center expansion and mining rig development based on its SEALMINER ASIC technology as well as working capital and general corporate purposes. Bitdeer has an ambitious growth strategy, and the company reports it is on pace to become the industry’s first fully integrated Bitcoin miner. At the end of the second quarter, the company had approximately $204 million in cash and $25 million in cryptocurrency on its balance sheet, which in addition to the recent capital markets offerings, should provide it with the working capital it needs to complete its pipeline, including next-generation ASIC chip production as well as its data center expansions. Bitdeer’s recent developments include: Mass production of its SEALMINER A1 chips for Bitcoin mining, with plans to add 3.4 EH/s to its data centers by year-end. Delivery of Bitdeer’s second-generation SEAL02 chip wafers is expected in September, after which time the company plans to ramp up mass production by year-end. Third-generation SEAL03 chip R&D is underway. The company’s ongoing data center projects in the U.S., Norway and Bhutan remain on track as its Bitcoin mining electrical capacity continues to grow. Bitdeer’s 2024 Capital Raising Toolbox Earlier this year, Bitdeer completed a financing deal with stablecoin leader Tether International Limited, comprising a $100 million common stock transaction with the potential for an additional $50 million upon the exercising of warrants. Bitdeer was reportedly pleased to bring a global industry player like Tether to its capital table. BTIG served as the sole bookrunner on the offering. With a market cap close to $1 billion, Bitdeer stock has earned a consensus price target of $14 per share across eight Wall Street analysts. Investors who are bullish on Bitcoin, the blockchain and AI can gain exposure to each of these high-tech segments and more through Bitdeer. Learn more about what the company has to offer here. Featured photo by Elf-Moondance on Pixabay. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

September 17, 2024 08:35 AM Eastern Daylight Time

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