WhiteHawk raises funds for growth

WhiteHawk (ASX:WHK), an AI-based cybersecurity company, has successfully raised A$1.7 million through a share placement. The funds will support business growth, development of AI solutions, and repay debt.

WhiteHawk's strategic financial move

WhiteHawk has completed a share placement raising A$1.7 million, allowing the company to support business growth, advance AI cybersecurity solutions, and repay debt. With a focus on enhancing blockchain capabilities, WhiteHawk aims to improve its offerings in security, identity verification, and data storage. The company is now fully funded and debt-free, with a contract pipeline valued at US$2 million. The placement involves issuing 170,000,000 new shares and options, structured in two tranches with shareholder approval needed for the second. WhiteHawk is positioned to leverage its financial stability for future growth and contract execution.

Executive insights on WhiteHawk's progress

We are pleased to have completed this placement, which puts WhiteHawk in a stronger financial position to execute our growth strategy. The funds will allow us to continue developing our AI-based cybersecurity solutions and pursue new contract opportunities.