Dubber Corporation (ASX: $DUB) completion of institutional entitlement offer and placement

Dubber Corporation Limited (ASX: $DUB) has successfully completed the institutional component of its fully underwritten 1 for 1 pro rata accelerated non-renounceable entitlement offer and fully underwritten institutional placement of fully paid ordinary shares in the Company. The institutional entitlement offer raised approximately $4.52 million through the issue of approximately 90.4 million new shares at the price of $0.05 per new share. Additionally, approximately $3.14 million was raised through the issue of approximately 62.76 million new shares under the placement at the same price.

Dubber Chairman, Neil Wilson's commentary on completion of institutional entitlement offer and placement

'This is an important step in restoring confidence in the company and I would like to thank our shareholders for their support during this challenging period. We look forward to continued positive engagement with Dubber partners and customers.'

Summary of completion of institutional entitlement offer and placement

Dubber Corporation Limited (ASX: $DUB) has successfully completed the institutional entitlement offer and placement, raising approximately $7.66 million. The funds received from the capital raising will be used for additional working capital, bringing ordinary business creditors back into normal payment terms, costs associated with the Company's financial investigation, repayment of Thorney Loan, and costs of the offer. The company has requested the ASX to lift the suspension of trading in its shares upon the allotment and issue of new shares under the institutional entitlement offer and placement, which is expected to occur on or around Wednesday, 17 April 2024. The new shares subscribed for under the institutional entitlement offer and placement are expected to settle on Tuesday, 16 April 2024, with those new shares expected to be issued, allotted, and commence trading on Wednesday, 17 April 2024. The retail entitlement offer is expected to open on Wednesday, 17 April 2024 and close at 5.00pm (Melbourne time) on Friday, 3 May 2024. Eligible retail shareholders will be entitled to participate in the retail entitlement offer on the terms and subject to conditions set out in the Prospectus. The offer of new options under the Prospectus in connection with the establishment fee payable under the secured bridging loan agreement has also been completed. All dates and times are indicative only and subject to change. Dubber reserves the right to amend any or all of these dates and times, with the consent of the Joint Lead Managers, subject to the Corporations Act, the ASX Listing Rules, and other applicable laws.