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Hexima Limited (ASX:HXL) proposal to acquire Real Thing Entertainment

Hexima (ASX:HXL) has entered a binding but conditional share sale agreement to acquire Real Thing Entertainment Pty Ltd (RealThing), creator of an AI platform which enables users to use simple voice commands and even complex dialogue to achieve goals.

  • Hexima proposes to acquire 100% of the issued capital of RealThing, which has developed an artificial intelligence platform called AiSAP (Autonomous Intelligent Software Agent Platform) that allows users to achieve outcomes using simple voice commands through to complex dialogue.
  • Hexima to issue RealThing shareholders an aggregate of 78,974,300 fully paid ordinary HXL shares and 8,721,504 options to acquire fully paid ordinary HXL shares (with a $0.20 exercise price and expiring on 5 March 2026), on a post proposed 1 for 10 Consolidation basis and subject to rounding.
  • Hexima proposes to undertake a capital raising via a public offer under a prospectus to raise between a minimum of $4 million and up to a maximum $7.5 million (before costs).
  • Hexima will issue two RealThing shareholders an aggregate of up to 2.5 million shares (on a post-Consolidation basis) at a deemed price equal to the capital raising price to redeem convertible notes previously issued by RealThing with an aggregate face value of $500,000.
  • Hexima proposes appointing Mr Silvio Salom (a director of RealThing) and Dr Michael Georgeff (a pioneer in intelligent agents) as directors, and appointing other new senior management, subject to completion of the acquisition by Hexima of RealThing.
  • Hexima proposes changing its name to RealThing AI Limited, with effect upon completion of the acquisition of RealThing.

Read the ASX announcement here.