Keystone Law advises Alteration Earth PLC on reverse takeover and admission to AIM

Keystone Law’s Capital Markets team advised Alteration Earth PLC (“ALTE”) in connection with its reverse takeover by Pri0r1ty AI Ltd (“Pri0r1ty”), associated fundraising and admission to AIM.

ALTE was formed as a special purpose acquisition company to undertake an acquisition of a target company. Keystone previously advised ALTE in connection with its initial IPO on the London Stock Exchange’s main market for listed securities, which it completed in 2022.

Pri0r1ty is a London-based SaaS company that empowers SMEs with cost-effective AI tools to automate processes like social media, investor relations and governance. Its platform, Pri0r1ty Advisor, delivers tailored solutions using deep learning, spanning financing, marketing and custom AI bots for client-specific needs.

The enlarged group, which has been renamed Pri0r1ty Intelligence Group PLC, raised £0.85 million through a direct subscription and placing with institutional and other investors. Its shares have been transferred from trading on the main market to AIM.

The Keystone team was led by Corporate partner Simon Holden and included Commercial partner Vanessa Barnett, Corporate associate Simon Margesson, and trainee Gabriel Navias.

Pri0r1ty Intelligence Group’s Chairman, Matthew Beardmore, commented:

“It was great to work with Keystone on this transaction. Keystone provided a wealth of expertise and experience from within its team, to ensure the transaction proceeded within its allocated time, cost, and quality parameters. Simon was excellent to work with and we look forward to completing more projects with Simon and the broader Keystone team in the future.”

Simon Holden said:

“It was fantastic working with Matthew and the rest of the Pri0r1ty team to reach this important milestone for ALTE. Keystone has supported ALTE since it was founded, and we have been incredibly grateful to share in its story from inception to completion of the acquisition of Pri0r1ty. We wish the enlarged group and team every success for the future.”