Substrate AI — Post-IPO · €20M

Shortly after its BME Growth listing, Substrate AI signed a €20M convertible bond facility with Global Corporate Finance Opportunities 15, a vehicle managed by Alpha Blue Ocean. The bonds carry 0% interest and a 12-month maturity, and are drawn in tranches: a €0.5–1M first tranche, then tranches of €0.5–2.5M. It came with warrants worth up to €4M more. The company drew many €500k tranches through 2024–2025, so the €20M is the committed facility, not money received at signing.

LeadAlpha Blue Ocean RoundPost-IPO Announced16 Jun 2022Not counted in totals CityMadrid SectorArtificial IntelligenceSource S

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