Linius Raises $4.5 Million

Linius Raises $4.5 Million

Linius Raises $4.5 Million 150 150 Jodi Cutler

Melbourne, Australia – September 23, 2019: Linius Technologies Limited (ASX: LNU) (“Company” or “Linius”) – the only cloud-based solution that transforms static video into hyper-personalized video[i] experiences with its world-first Video Virtualization Engine™ (VVE)[ii] – has received firm commitments from professional and sophisticated investors to raise $4.5 million, before costs (Placement).

The Placement includes an approximately $300,000 investment from Linius directors, subject to shareholder approval, which will be sought at the Company’s upcoming annual general meeting.

The Placement received strong support from new investors together with existing shareholders, including the Kirby Family and Technical Investing.

The Placement will result in the issue of 136,363,640 fully paid ordinary shares at $0.033 per share to raise $4.5 million, before costs. The Placement will be conducted within the Company’s existing Listing Rule 7.1 placement capacity for 127,272,727 shares and pursuant to Listing Rule 10.11 for 9,090,909 shares in respect of the shares subscribed for by directors. The issue price represents a discount of 8.8% to the 15-day VWAP.

The Company will use the proceeds of the Placement to fund continuing operations and deliver on its vision of making all the world’s video accessible as data. Commercialization of the technology and building strong, recurring revenue streams will occur as the Company continues to:

  • Invest in the cloud based Linius SaaS platform – Linius Video Services (‘LVS’)
  • Scale distribution through partnerships including Microsoft, AWS and IBM
  • Replicate solutions in key verticals including sports, news, security and defence, education and corporate communications.
  • Further develop the SaaS Marketplace where third parties invest and launch their own technology from, on the Linius backbone
  • Invest in and secure further Proof of concepts (‘POCs’) and more commercial deals such as the recent SportsHero and Racing.com agreements
  • File new patents, trademarks and copyrights in line with the commercialization strategy

Linius’ cash balance at 30 June 2019 was $2.3 million.  Previous quarters’ expenditure has reflected accelerated costs as we built out the product for commercial deployment for replicable products.  This software platform has now been built resulting in future deployments being more efficient to bring to market.  In addition there were costs associated with the restructure of the Company’s engineering function.  These efficiencies will be reflected in reduced overall expenditure from the September Quarter 2019.  The Company is also generating revenue through commercial deployment of its technology and expects revenue to grow during the financial year.

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

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

[ii] Linius Technologies Limited, Linius Technology Overview: https://www.linius.com/video/

 

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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