The Company’s Ordinary Shares were admitted to trading at 8:00am on Friday, 3 May 2024, under the stock market ticker ELEG. The Placing price was 2.1p per share, resulting in a market capitalisation of approximately £4.7 million.

Electric Guitar PLC was formed as a Special Purpose Acquisition Company seeking acquisitions in the digital marketing and advertising industry to help empower businesses to realise the value of their first-party data. As the first part of its buy and build strategy, Electric Guitar has acquired 3radical Limited, which provides a Software as a Service platform to enable organisations to engage individuals and request their data directly using interactive digital experiences. 3radical has blue-chip clients around the world for its tried and tested enterprise software.

The need for such first-party data solutions has become increasingly urgent for marketers because key players in the digital advertising ecosystem such as Apple, Alphabet (Google’s parent company) and Meta (Facebook) are consolidating their control of the data needed to understand consumers. As data becomes more scarce, Generative AI is rapidly creating expectations of data-driven, hyper-personalised consumer conversations. The Directors believe 3radical’s advanced technology provides an excellent basis for solving these digital marketing challenges.

The Company is using the proceeds of its fundraise to enhance the strategy of the enlarged group by having a stronger balance sheet, investing in the commercialisation and further development of 3radical’s technology using AI techniques, and developing the Company’s pipeline of acquisitions and investments.