Capital Markets team advises Dowgate Capital Limited as broker on AI-focused private placing

2 minute read
07 June 2022


Gowling WLG's Capital Markets team has advised Dowgate Capital Limited as broker to OpenDialog AI Limited (OpenDialog) on a £4 million private fundraise.

OpenDialog offers a platform for businesses looking to design chat-bots that can converse with customers, employees and business partners across different channels to achieve goals within those automated discussions.

In parallel with the private fundraising, OpenDialog purchased the entire issued share capital of GreenShoot Labs Limited from TPXimpact Holdings PLC for the sum of £2,187,500 which was satisfied through the issue and allotment of 800,000 new ordinary shares in Open Dialogue AI Limited to TPXimpact Holdings PLC at a price of approximately £2.73 per share.

The team from Gowling WLG that advised Dowgate Capital was led by partner Hugh Maule supported by Hannah Shamsolmaali.

Commenting on the deal, Hugh said: "The AI space is a particularly innovative and exciting space for investors at the moment, making this fundraise a fantastic springboard for rapid growth."

With offices across the UK, Europe, Canada, Asia and the Middle East – as well as an established network of professionals in South Africa, Australia and South America – the Capital Markets team utilises its understanding of local markets to navigate issues across multiple jurisdictions. The team has vast experience in fundraising ventures and acting for capital markets participants, and take great pride in what they help their clients achieve.

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