Pri0r1ty Intelligence Group (LSE:PR1) agreed an unsecured £1.25 million convertible loan note with investment funds managed by Yorkville Advisors Global, LP and has appointed Bowsprit Partners as joint broker to arrange an at‑the‑market facility.
The AI‑focused business delivering data, marketing and SaaS growth solutions for SMEs intends the proceeds to support operations, expand go‑to‑market activity and product development, and, if the CLN is repaid through equity issuances, provide runway to become cash‑flow positive ahead of the year end in September.
The company said the CLN carries 5% per annum interest, is unsecured (with guarantees from each operating subsidiary), matures 12 months from completion, has no repayments for the first 60 days and then requires five monthly payments of £125,000 plus accrued interest followed by a final bullet payment on the sixth instalment.
Yorkville will withhold a 3% commitment fee from the proceeds, broker warrants will be granted exercisable for three years, and the ATM facility can be used to raise equity to repay the CLN if there is sufficient headroom or headroom is freed by repayment rather than conversion.
The group said the funds will also push toward a target of more than 500 users by the end of the current financial year to September, scale affiliate partnerships to reach thousands of consumers, and increase compute capacity for its initial four products.
"We are pleased to agree terms with Yorkville Advisors on a funding package that will accelerate the Company's current growth, in particular our marketing, sales and product development activities," said Rory Maxwell.
