Anemoi International has entered advanced subscription agreements (ASAs) worth $2.2m to provide growth capital for Trasna ahead of the previously announced reverse takeover (RTO), the AIM-listed cash shell said.
The funds will convert into equity in the enlarged company, to be renamed Trasna, at a 20% discount to the RTO pricing once the deal completes.
Should the RTO fail to complete, the advance converts instead into shares of Trasna Solutions Technologies, the private target company.
Anemoi has separately secured a further $1m, which it will retain itself for growth capital rather than pass to Trasna.
This tranche carries the same 20% discount conversion terms at completion, but reverts to AMOI shares rather than Trasna stock if the RTO does not proceed.
Duncan Soukup, Anemoi's chairman, said the transaction was "progressing apace" and that completion by the end of the third quarter or early in the fourth quarter of 2026 "remains realistic", while acknowledging execution risk.
The combined $3.2m gives both the target and the shell working capital while shareholders await the RTO's formal completion.
News Intelligence what this means for the company
Anemoi, an AIM-listed cash shell, has secured $3.2m in advance subscription agreements ahead of its planned reverse takeover of Trasna Solutions Technologies. Of this, $2.2m will fund Trasna's growth and convert to equity in the enlarged company at a 20% discount to RTO pricing; the remaining $1m stays with Anemoi for its own use. Both tranches carry the same discount conversion terms, reverting to their respective company shares if the RTO fails. Completion is targeted for Q3 or early Q4 2026, though the chairman acknowledges execution risk.
The raise provides working capital to both the shell and target while the RTO proceeds, reducing near-term funding pressure. However, the deal remains conditional on completion by late 2026; failure would leave investors holding shares in either the shell or the private target at a 20% discount to RTO pricing, a structure that protects subscribers but underscores the deal's execution risk.
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