Spacetalk Ltd (ASX:SPA) Supplementary Prospectus update

Spacetalk Ltd (ASX:SPA) has issued a supplementary prospectus on 23 September 2024 to update the terms of the Placement Offer outlined in the original prospectus dated 16 September 2024. The company is offering 25,416,667 Shares at an issue price of $0.024 per Share, along with 1 Attaching Option for every 2 Shares subscribed for and issued, to professional, sophisticated, and institutional investors. The purpose of this update is to modify the terms of the Placement Offer, specifically regarding the issuance of Attaching Options, which will no longer be subject to Shareholder approval but will instead be issued pursuant to the Company's available placement capacity under ASX Listing Rule 7.1.

Spacetalk Ltd (ASX:SPA) Executive Commentary

The amendments outlined in the supplementary prospectus are aimed at providing greater flexibility and efficiency in the issuance of Attaching Options under the Placement Offer. By removing the requirement for Shareholder approval, we can expedite the process and capitalize on the available placement capacity under ASX Listing Rule 7.1. This strategic decision aligns with our goal of efficiently raising funds to support the purchase of inventory, growth marketing, product development, and other associated costs. We believe that these changes are not materially adverse from an investor's perspective and are confident in the positive impact they will have on the company's growth trajectory.

Spacetalk Ltd (ASX:SPA) Prospectus Summary

Spacetalk Ltd (ASX:SPA) has updated the terms of the Placement Offer outlined in the original prospectus dated 16 September 2024 through a supplementary prospectus issued on 23 September 2024. The update removes the requirement for Shareholder approval in the issuance of Attaching Options under the Placement Offer, streamlining the process by utilizing the company's available placement capacity under ASX Listing Rule 7.1. The company aims to raise approximately $610,000 through the issue of 25,416,667 Shares at an issue price of $0.024 per Share, along with 1 Attaching Option for every 2 Shares subscribed for and issued. The funds raised are intended to support the purchase of inventory, growth marketing, product development, and other associated costs. Spacetalk Ltd (ASX:SPA) remains focused on efficiently raising capital to drive its strategic initiatives and fuel its growth in the market.