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BrainChip Completes Placement to Raise A$21.5 million

SAN FRANCISCO, CA — (Marketwired) — 10/31/17 — BrainChip Holdings Ltd. (ASX: BRN)

BrainChip Holdings Ltd. (“BrainChip” or the “Company”) (ASX: BRN), a leading developer of software and hardware accelerated solutions for advanced Artificial Intelligence (AI) and machine learning applications, is pleased to announce that it has completed a placement to raise A$21.5 million (“Placement”).

The Placement was conducted at an issue price of A$0.18 a share, representing a 26.5% discount to BrainChip–s last closing price of A$0.245 (as at Thursday, 26 October 2017), and a 16.9% discount to the 10-day volume weighted average price (“VWAP”) of A$0.2166. The Placement was heavily oversubscribed and was supported by a large number of institutions. Shaw and Partners Limited acted as Lead Manager to the Placement with Foster Stockbroking Pty Ltd acting as Co-Lead Manager.

The Company will host a conference call on Monday 06 November at 9:00 a.m. Interested investors can register on the Company–s website and may submit questions in advance to

The proceeds from the Placement will primarily be used to fund working capital requirements including:

ongoing research and development of BrainChip–s existing video analytics products and its planned AKIDATM Neuromorphic Processor Unit;

operational capabilities, including capacity to service new design wins; and

sales and marketing initiatives to drive the Company–s commercialization strategy via original equipment manufacturers, integrators and other partners.

119,380,063 shares to be issued pursuant to the Placement (“Placement Shares”) will be issued in accordance with ASX Listing Rule 7.1 under the Company–s existing placement capacity. The shares issued under the Placement will comprise approximately 12% of BrainChip–s total post-placement issued share capital and will rank equally with existing ordinary shares.

Louis DiNardo, BrainChip–s President & CEO, said: “The strong support of institutional and sophisticated investors in this capital raising is a solid endorsement of our Company and places BrainChip in a very strong position to accelerate the growth of its business. The money raised will help us to expand BrainChip–s sales and marketing initiatives and secure new design wins as well as greatly assist with our research and development capabilities, namely the development of our groundbreaking AKIDATM Neuromorphic Processor Unit.”

The dates provided in the timetable below are indicative only and are subject to change at the Company–s complete discretion.

(ASX: BRN)

BrainChip Holdings Ltd. is a leading provider of software and hardware- accelerated solutions for Advanced Artificial Intelligence and Machine Learning applications. The Company has developed a revolutionary new spiking neural network technology that can learn autonomously, evolve and associate information just like the human brain. The technology, which is proprietary, is fast, completely digital and consumes very low power. The Company provides software and hardware solutions that address the high-performance requirements in Civil Surveillance, Gaming, Facial Recognition and Visual Inspection systems.

Robert Beachler

+1 (949) 330-6750

Harrison Polites
Media and Capital Partners

+61 409 623 618

Laura Guerrant-Oiye
Principal

+1 (808) 960-2642

Gabriella Hold
Media and Capital Partners

+61 411 364 382

Sacha Arts
Publitek

+1 (408) 458 6316

Nayl D–Souza
Publitek

+44 20 3813 6423