Hill Dickinson’s Equity Capital Markets team has advised Pri0r1ty Ai Ltd on its reverse takeover of special purpose acquisition vehicle, Alteration Earth plc (now renamed Pri0r1ty Intelligence Group plc), and the enlarged group’s admission to AIM.
The group has also raised £0.85 million through a direct subscription and placing with institutional and other investors.
The Hill Dickinson team advising Pri0r1ty Ai was led by corporate partner Sam Hudson with support from associates Danielle Higgins and William Daniels and paralegal Martha Morrow (corporate); and partner James Lonsdale, legal director Eleanor Tunnicliffe and associates Saba Mumraz and Sophie Vella (commercial).
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.
Commenting for Pri0r1ty, James Sheehan, CEO said: “Pri0r1ty AI was set up to meet a very real and growing challenge. SMEs spend huge amounts of money – over £60 billion a year – on external professional services providers when so many of these tasks can be automated using AI. With our technology, companies can use advisers for what they do best, high-end strategic support and technical value-added specialist services, and make the whole process more efficient and cost-effective by letting AI handle many of the everyday tasks. Our solution provides users with a suite of AI-tools that enables the efficient scaling of their business.
“Sam and the Hill Dickinson team have supported Pri0r1ty since it was founded by myself and Daniel Gee in 2023 and we have been incredibly grateful for the support they have provided in this time. We look forward to continuing to work alongside them as we continue our journey.”
Commenting for Hill Dickinson, Sam Hudson said: “We are delighted to have been able to support Pri0r1ty with this transaction, which marks a significant milestone for this business and which will hopefully enable it to go from strength to strength as it looks to follow through on its strategy for growth. 2024 was an incredibly difficult year for capital markets and we are pleased to have been able to help Pri0r1ty navigate the challenges faced to complete the final IPO of 2024.”