ThreeD Capital Expands Stake in AI/ML Innovations

Deal News | Nov 09, 2024 | Globenewswire

ThreeD Capital Expands Stake in AI/ML Innovations

ThreeD Capital Inc., a Canadian-based venture capital firm, has issued an early warning report following its acquisition of 9 million common shares and an equal number of common share purchase warrants of AI/ML Innovations Inc. This acquisition raises ThreeD Capital's and its affiliated party's, Sheldon Inwentash, stake from 8.0% to 13.4% of all common shares, or up to 26.0% on a partially diluted basis. The transaction, conducted through a private placement for a total of $585,000, is part of ThreeD's strategy to invest in promising companies within the junior resources and disruptive technologies sectors. Prior to this acquisition, ThreeD and Inwentash collectively held a significant number of AIML shares and warrants, evidencing a strategy to deepen their investment, potentially influenced by market conditions and strategic objectives in tech-focused ventures.

Sectors

  • Venture Capital & Private Equity
  • Technology

Geography

  • Canada – ThreeD Capital Inc. is a Canadian-based company, and this geographical location influences its investment strategy and market presence.

Industry

  • Venture Capital & Private Equity – ThreeD Capital Inc. operates in the venture capital and private equity sector, focusing on investments in developing companies.
  • Technology – AI/ML Innovations Inc. operates within the technology sector, particularly focusing on artificial intelligence and machine learning solutions.

Financials

  • $585,000 – The total consideration paid by ThreeD Capital for the acquisition of 9 million shares and warrants of AI/ML Innovations Inc.

Participants

NameRoleTypeDescription
ThreeD Capital Inc.Investor/AcquirerCompanyA Canadian venture capital firm focusing on opportunistic investments in junior resources and disruptive technologies.
AI/ML Innovations Inc.TargetCompanyA company engaged in developing and commercializing artificial intelligence and machine learning technologies.
Sheldon InwentashJoint ActorPersonAn individual acting jointly with ThreeD Capital in the acquisition of AI/ML Innovations Inc. securities.