Spacetalk (ASX:SPA) equity raising announcement

Spacetalk Ltd (ASX:SPA) has announced a $3.2 million equity raising to fund the purchase of inventory, data-led growth marketing, and new software and hardware product development. The equity raising includes a non-renounceable accelerated institutional and retail entitlement offer and a placement to professional, sophisticated, and institutional investors. Bell Potter Securities Limited is the Lead Manager and Underwriter, partially underwriting the offers to a value of $2,664,635. The equity raising is being conducted pursuant to a transaction-specific prospectus released to the ASX on 16 September 2024.

Executive commentary on equity raising

The funds raised from the equity raising will be crucial in supporting our strategic initiatives, including the purchase of inventory, data-led growth marketing, and the development of new software and hardware products. This will enable us to continue providing innovative solutions that address safety concerns for families and employees in remote settings. We are pleased to have Bell Potter Securities Limited as the Lead Manager and Underwriter, and we look forward to the successful completion of the offers.

Summary of Spacetalk's equity raising announcement

Spacetalk Ltd (ASX:SPA) has announced a $3.2 million equity raising to fund inventory purchase, data-led growth marketing, and new product development. The equity raising includes a non-renounceable accelerated institutional and retail entitlement offer and a placement to professional, sophisticated, and institutional investors. The funds raised are intended to support the purchase of inventory, costs associated with data-led growth marketing, and new product development, specifically the Adventurer 3 device, the Spacetalk APP, Life 2 device, related software, and firmware. The company's product ecosystem provides a complete digital solution that supports safety and security for families across their life stages and for employees working in remote settings. The release of the announcement has been approved by the board of directors of the Company. For further information or investor enquiries, please contact Spacetalk Limited (ASX:SPA) at investors@spacetalk.co.