X Machina-AI Inc. Closes Acquisition of Bain Public Inc.
January 17, 2022 08:30 AM Eastern Standard Time
To all friends and Investors of X Machina-AI, here’s the latest from our team.
Operationalizing X Machina-AI
Since closing the seed round on Nov. 30th, we have been very busy operationalizing the company. We moved into our offices exactly two weeks after completing the raise. We are located in the heart of the Plateau Mont-Royal of Montréal, at 15 Marie-Anne Str. West, suite 200. We are also very happy to have hired a director of operations: Sonia Petraccione, a former VP of operations at Intema and head of the largest TD branch in Québec. If you are in the neighbourhood and want to grab a delicious espresso, don’t hesitate to drop by.
Bain Public Acquisition
A mere two weeks later, on December 31st, we closed the acquisition of Bain Public. You can read more about it here.
Bain Public Inc. is a leading provider of AI product strategy and has worked extensively with the leading accelerators in the Montréal ecosystem. Paul Ortchanian’s personal expertise, developed during his time in Silicon Valley and his proprietary management coaching programs, have enabled him and his team to build a successful product strategy consultancy. Bain Public is geared towards the enhancement of enterprise value through carefully defined approaches to product roadmap delivery.
The Bain Public acquisition is part of our strategic growth plan and will be a strong addition to X Machina-AI’s value creation team.
Deal Flow Process
Vaughn and Daniel have been working diligently to expand and formalize our deal flow process. The response from VCs, banks and accelerators has been nothing short of outstanding. These relationships are already providing interesting acquisition opportunities.
$4M 25c round
This week, we are proud to announce that Hampton has decided to act as our lead broker agent in our go public raise of $4M with a possible oversubscription of 15%. We are elated to work with Andrew Deeb and Michael Comeau of the Hampton team in an official capacity and are aiming to close this 25c round on or before March 31st 2022.
Listing X Machina
We have concurrently begun the amalgamation with our public vehicle and are in the process of fulfilling our listing requirements for our application for filing with the CSE. We are targeting to complete the listing process in the early part of the second quarter of 2022.
Meet us in Toronto
We are heading to Toronto next Wednesday February 16th, so if you have any potential investors or partners for us to meet, send them our way. Vaughn, Daniel, Patrick and myself will be there and will be meeting with potential investors and deal flow partners at the National Club.
If you have any questions please address them to myself, we are happy to keep in touch.
Claude Théoret, CEO X Machina-AI