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Unisound AI Technology to Raise HK$381 Million via Share Placement

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Unisound AI Technology (HKG:9678) plans to raise about HK$381.4 million in net proceeds through a placing of new shares, according to a Thursday Hong Kong bourse filing.

The AI services provider agreed to place 1.7 million new shares at HK$228 each to no fewer than six independent investors on a best-efforts basis.

The placing shares represent about 2.33% of the company's existing issued share capital, while the placing price represents a 19.9% discount to the stock's last closing price.

Net proceeds will be used for training the company's new-generation "U-Series" multimodal large model, building global Token factories and overseas Token operations, and sales and marketing activities.

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