Linius Raises $3.5 Million

Linius Raises $3.5 Million

Linius Raises $3.5 Million 150 150 Lachlan James

Melbourne, Australia – April 8, 2019: Linius Technologies Limited (ASX: LNU) – the only cloud-based solution that transforms static video into hyper-personalized video[1] experiences with its world-first Video Virtualization Engine™ (VVE)[2] – has received firm commitments from professional and sophisticated investors to raise $3.5 million, before costs (Placement).

The Placement includes an approximately $1 million investment from Linius directors, subject to shareholder approval, which will be sought at a general meeting of shareholders to be held as soon as practicable.

The Placement received strong support from new investors together with existing shareholders, including Robert Kirby AO, Executive Chairman of Village Roadshow.

The Placement will result in the issue of 100,000,000 fully paid ordinary shares at $0.035 per share to raise $3.5 million, before costs. The Placement will be conducted within the Company’s existing Listing Rules 7.1 and 7.1A placement capacity, namely 93,559,000 shares issued pursuant to LR 7.1A and 6,441,000 shares issued pursuant to LR 7.1. The issue price is higher than the minimum price requirement pursuant to LR 7.1A.3 and represents a discount of 18.7% to the 15-day VWAP.

Linius will use the proceeds of the Placement to fund continuing operations along its three-pronged strategy for achieving its vision of making all the world’s video accessible as data:

  • Linius Video Services — Linius’ Software-as-a-Service platform, designed to empower businesses, developers and System Integrators around the world to create and deliver previously impossible hyper-personalized video experiences at scale.
  • Partners — to scale the distribution and sale of solutions built on LVS and VVE, exemplified by the recent announcement of Linius’ admission to Microsoft’s Co-Sell Program[3].
  • Direct Sales — to prove solutions and business models in key verticals, including sports, news and media, education, sports gambling, and corporate communications.

In conjunction with previously communicated lower quarterly run-rate, and now-completed proofs-of-concept, Linius believes the Placement provides the company with the runway to execute this strategy and drive revenues. The Placement (excluding director participation) is scheduled to settle on 16 April 2019.

Blue Ocean Equities Pty Limited (AFSL 412765) acted as lead manager for the Placement.

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About Linius Technologies Limited:

Linius Technologies Limited (ASX: LNU) has invented and patented the Video Virtualization Engine™ (VVE), which is available on Amazon Web Services, Microsoft Azure and IBM Cloud.

Amazon, Microsoft and IBM are investing billions in virtualizing ‘video services’ (technologies) and Artificial Intelligence in the cloud[4]. It is arguably the biggest battle on the internet, given that video accounts for nearly 80 percent of internet traffic[5].

Only Linius can expose the data that makes up the video file, making cumbersome video as flexible as all other forms of data. Accessing the data within the video file is the missing link for video cloud service providers, creating unparalleled value across the internet video industry.

Linius’ VVE-powered Video Hyper-Personalization and Search Solution enables anyone to instantly search the data within video, from across an infinite number of sources, and automatically assemble the results in a single stream on-the-fly. No human hands required.

Linius is revolutionizing the way organizations and individuals across the globe produce, deliver and consume video, enabling previously impossible hyper-personalized video experiences.

It’s a breakthrough set to disrupt entire multi-billion-dollar industries. Linius is initially focused on delivering its Video Hyper-Personalization and Search Solution to six core markets: News and Media, Sports Broadcasters and Rights Holders, Education, Corporate Communications, Security and Defense, and Sports Betting.

For more on Linius Technologies, visit www.linius.com

For further information, please contact:

Chris Richardson, CEO, +61 (0)3 8672 7186 or info@linius.com

For regular news and updates on Linius Technologies, sign-up HERE >

Follow Linius Technologies on Twitter (@linius_tech), LinkedIn (Linius Technologies Ltd), Vimeo (Linius Technologies) and Facebook (@linius).

[1] Linius Technologies Limited, Hyper-Personalized Video Solutions: https://www.linius.com/hyper-personalized-video-solutions/

[2] Linius Technologies Limited, About Linius: https://www.linius.com/video/

[3] Linius Technologies Limited, Linius boosts global reach with admission to Microsoft Co-Sell Program: https://www.linius.com/linius-boosts-global-reach-with-admission-to-microsoft-co-sell-program/

[4] RS Components, The Race for AI: https://uk.rs-online.com/web/generalDisplay.html?id=i/race-for-ai 

[5] Cisco, Cisco Visual Networking Index: https://www.cisco.com/c/en/us/solutions/service-provider/visual-networking- index-vni/index.html

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