• Firm commitments for $30M placement at $1.50 per share
• Placement supported by existing and new investors
• Proceeds to fund business development, contract mobilization, product innovation, and more

Acusensus Ltd, a technology company designing and developing artificial intelligence-enabled road safety solutions, has announced the successful completion of a $30 million placement. The company received firm commitments for the placement of 20 million new fully paid ordinary shares at $1.50 per share, representing a 9.1% discount to the last close price and an 8.5% discount to the 5-day VWAP. The placement was strongly supported by both existing and new professional and sophisticated investors, which will help strengthen Acusensus' institutional ownership, increase the free-float, and improve liquidity in the market for the company's shares. The proceeds from the placement will be applied to business development, contract mobilization and purchase of fixed assets, product innovation, working capital, litigation-related costs, and the costs of the placement itself. Acusensus Founder and Managing Director, Alexander Jannink, expressed his delight at the strong support received from both existing and new investors, stating that the placement will help advance the company's mission to reduce road casualties on a global scale, broaden its shareholder register, promote liquidity, accelerate its growth strategy, and strengthen its ability to submit for more work on a global scale.