Blackbird Share Discussion Threads

[amt] 29/2/2024 07:55

Problem here is that Blackbird sales seem to have peaked already at a fraction of what I thought they might get to.
So they move on to another exciting product. How do we know the same won't happen again.
I would be happy to get my investment back but it doesn't look promising

[timbo003] 29/2/2024 07:52

I applied for a small allocation in the placing (project fly) and was pleased to learn this morning that there was no scale back, so I got what I asked for. I only heard about it Tuesday Lunchtime and it closed on at end of play Tuesday afternoon. I asked whether it would qualify for EIS tax breaks before investing and i was told that they had applied for advance assurance from HMRC but had not yet heard back, which was good enough for me. Apparently the company/Allenby had been approached by certain engaged investors who wished to invest around £500K and that was before they sent details out to other brokers, so I was expecting either substantial scale back or zero allocation, so pleased with the result and just now hope they end up with EIS approval.

[kcowe] 29/2/2024 07:50

the placing points to a favourable outcome.. I think its a very positive move.

[m5] 29/2/2024 07:45

Exactly. It's pure greed and getting your mates on board at a discount IMHO.

[pokerchips2] 29/2/2024 07:44

Would be useful to know if these "high net worth investors" are just looking to flip them for a profit ...or actually have interest in the journey

[chriscallen] 29/2/2024 07:44

"You might think that, but I could not possibly say so" [Francis Urquart]

[jailbird] 29/2/2024 07:42

No you do not raise unless you need money This is self interest at expense of shareholders Market is not supposed to raise for these reasons They gave plenty of cash

[kcowe] 29/2/2024 07:40

1 million is to get people on board ... cant you see that .

[chriscallen] 29/2/2024 07:40

Given the cash they have this placing is not a really significant increase. So the motive looks more likely to be a way of achieving something else. It's the placing price that's important as it might suggest that a re-rating of the shares is shortly to be on the cards which would cost the subscribers a lot more if the placing occurred later. But then subscribers to previous placings have not profited as of yet.

[pokerchips2] 29/2/2024 07:32

" we have had a number of engaged High Net Worth individuals show interest in investing directly in our story."

sounds like they are dipping their toes in and later will look to add more ?

"With this extensive global cloud infrastructure now integrated into its operations, elevate.io has the ability to scale its operations at speed, globally" .."and an extensible plug-in architecture."

sounds like it all set to go....

[shortsqueezer] 29/2/2024 07:31

Well Mr Beast posted a video to X a couple of months ago. Something he said he would never do apparently. Testing something perhaps?

[amt] 29/2/2024 07:31

It's outrageous really but never mind

of which £50,000 will be subscribed for by Ian McDonough, Chief Executive Officer of the Company, and members of his family.

[chriscallen] 29/2/2024 07:25

Today 07:00

RNS Number : 8560E
Blackbird PLC
29 February 2024


29 February 2024

Blackbird plc

(the "Company")



Placing to raise approximately £1.05 million

and

Total Voting Rights



Blackbird plc (AIM:BIRD), the technology licensor, developer and seller of the market-leading cloud video editing platform, Blackbird®, is pleased to announce a placing of 17,500,002 new ordinary shares of 0.8 pence each in the Company (the "Placing Shares") at a price of 6.0 pence per share (the "Placing Price") to raise approximately £1.05 million before expenses (the "Placing").



Allenby Capital Limited ("Allenby Capital") is acting as sole broker in connection with the Placing.



Blackbird plc CEO, Ian McDonough, said:



"As general access of elevate.io approaches we have had a number of engaged High Net Worth individuals show interest in investing directly in our story. Together with some existing shareholders we have raised additional funding to assist in the early months of elevate.io's growth."



Transaction highlights



· The Placing Shares have been placed with existing and new investors.

· The Placing Shares will represent approximately 4.53 per cent. of the issued share capital of the Company, as enlarged by the issue of the Placing Shares.

· Certain members of the Board and management (and associated family members) are intending to subscribe for an aggregate of approximately £70,000, of which £50,000 will be subscribed for by Ian McDonough, Chief Executive Officer of the Company, and members of his family.

· The estimated net proceeds of the Placing, which will be approximately £1.0 million, will be used to bolster the Company's investment in and grow its elevate.io product. Prior to the Placing, the Company currently has approximately £5.9 million in cash and short-term investments.



Background to and reasons for the Placing



The Company is seeking funds to help grow the Company's elevate.io product. elevate.io is the Company's new browser-based end-to-end content creation tool for the Creator Economy. Powered by the Blackbird technology, elevate.io aims to address key pain points facing creators today by featuring simplified and accessible editing tools; streamlining collaboration with other users; and an extensible plug-in architecture.



elevate.io addresses the Creator Economy which as of April 2023 was valued at approximately $250 billion[1] and set to double in size by 2027. The tools and services segment of this market which applies directly to elevate.io was valued at approximately $25 billion in 2023 and is estimated to grow to be worth $180 billion[2] by 2032, a CAGR of 25.7%. With existing marquee clients in the high-end Media & Entertainment sector, the Board believes that the Company has the pedigree to launch into the Creator Economy.



elevate.io has been built natively in the public cloud, through a partnership with AWS and other cloud service providers. With this extensive global cloud infrastructure now integrated into its operations, elevate.io has the ability to scale its operations at speed, globally. For elevate.io's customers, this means consistent high performance, and high availability, regardless of geolocation.





Details of the Placing



A total of 17,500,002 Placing Shares are to be issued at a price of 6.0 pence per Placing Share. The Placing has been conducted utilising the Company's existing share authorities to issue shares for cash on a non-pre-emptive basis. Allenby Capital acted as the Company's sole broker in connection with the Placing. The Placing is conditional, inter alia, on admission of the Placing Shares to trading on AIM ("Admission") becoming effective.



The Company has entered into a Placing Agreement with Allenby Capital under which Allenby Capital has agreed to use its reasonable endeavours to procure subscribers for the Placing Shares at the Placing Price. The Placing has not been underwritten.



The Placing Agreement contains, inter alia, customary undertakings and warranties given by the Company in favour of Allenby Capital as to the accuracy of information contained in this document and other matters relating to the Company. Allenby Capital may terminate the Placing Agreement in specified circumstances prior to Admission, including, inter alia, for material breach of the Placing Agreement or any other warranties contained in it and in the event of certain force majeure events occurring.



The Placing Shares will represent approximately 4.53 per cent. of the Company's enlarged share capital. The Placing Price represents a discount of approximately 13.0 per cent. to the closing mid-market price of 6.9 pence per existing ordinary share of 0.8 pence each in the Company (the "Existing Ordinary Shares") on 28 February 2024.



The Placing Shares will be credited as fully paid and will rank equally in all respects with the Existing Ordinary Shares.



The Placing Shares have been placed with certain existing and new investors. The Directors value the Company's retail shareholders, but due to the size of the Placing and the cost of undertaking a retail offer, the Board determined that it was not in the Company's interest to make the Placing available to all existing shareholders. However, this will be kept under review should the Company seek to raise further funds in the future.



It is expected that CREST accounts will be credited on the relevant day of Admission and that share certificates (where applicable) will be dispatched within 10 working days of Admission.



Directors' intended subscription



The Company is currently in a closed period under MAR pending announcement of its annual results for the year ended 31 December 2023. In consequence of that, whilst certain members of the Board and management and persons closely associated with them are keen to participate in the Placing, they are not currently permitted to under the MAR framework. However, the Board recognise the importance of Director/management participation for shareholders and, as such, certain members of the Board and management (and associated family members) intend to subscribe for new Ordinary Shares (defined below) at the first available opportunity following the publication of the annual results for the year ended 31 December 2023 (expected to be on 5 March 2024). The subscription is expected to total £70,000 and will be carried out at the Placing Price.

[cyberbub] 29/2/2024 07:22

Not a big deal, only 4% dilution at a modest discount and gives that little bit extra wiggle room as Elevate launches. Director participation is positive.If the narrative is true, having a couple of HNWs offer to invest say £300k each is very encouraging. I've seen this happen recently in other shares just before they lifted off.... Yes it seems slightly unfair but that's how it works, the big boys get the biscuits.... If the share price is at 20p later this year it will all be forgotten...

[kcowe] 29/2/2024 07:21

interested parties see the potential of elivate.io.. These interested parties could be those that have tested are going to promote the product .. gives them skin in the game aligns those with existing share holders ...

[jailbird] 29/2/2024 07:15

So Why raise funds when you have plenty Unnecessary dilution for shareholders Stinks for self interest Prior to the Placing, the Company currently has approximately £5.9 million in cash and short-term investments.

[tegell1] 29/2/2024 07:13

this isn’t very much. Is this about the team picking up some cheap shares before take off ( Sumit?)