Unith issues prospectus for funding raise

• Unith (ASX:UNT) is developing ‘digital humans’ powered by AI for sales on a B2B basis
• The avatars can be used in a range of industries from personal assistant products to medical and sales assistance
• The company is shaking the tin to fund the rollout of this marketplace
• Shares last traded at 1.5 cents

AI-powered digital human provider Unith (ASX:UNT) issued a prospectus this morning outlining a non-renounceable pro rata entitlement issue.

The company is offering the market one new share for every seven held by those eligible at an issue price of 1.4 cents to raise $2.077 million.

Included is one free attaching unlisted option and one free attaching listed option for every two new shares issued.

The offer is set to close at 5 pm AEDT on March 18.

“The proceeds of the Offers and the Placement will be primarily used for the general public launch of the Digital Human platform as a self-service product,” Unith Chairman Sytze Voulon said.

Unith develops highly realistic 3D models of human beings which are then enhanced by AI chatbot models like ChatGPT to allow users to interact with those ‘digital humans.’

The company intends to offer its digital humans on a B2B basis, with applications ranging from sales conversion on websites to medical consultation and even personal assistants.

The company is also heavily expanding its foray into AI at a time when the Artifical Intelligence thematic is largely responsible for the surge in global share market sentiment through 2024 YTD.

UNT shares last traded at 1.5 cents.