RocketBoots completes successful placement

RocketBoots Limited (ASX: $ROC) has successfully completed a placement, raising approximately $832,000 at $0.08 per share through the issuance of 10,400,000 shares to new and existing shareholders. The funds raised will be utilized to support the company's working capital, expansion activities, trials, and contract negotiations with multiple customers.

Executive Commentary on Capital Raise and Future Plans

This capital raise, when combined with our SPP funds and forecast cash inflows in the new financial year, should provide RocketBoots with the opportunity to complete its current eight (8) international trials. Successful conversion of any of these trials to a scaled site, multi-year contract has the potential to make a significant impact on our business fundamentals. The capital will also enable RocketBoots to install a second wave of trials, due in mid-2024 & continue converting its growing pipeline to new trials. We look forward to updating the market on our progress in the near future.

Summary of RocketBoots Placement and Future Outlook

RocketBoots Limited (ASX: $ROC) has successfully raised approximately $832,000 through a placement, which will support the company's expansion activities, trials, and contract negotiations. The funds, combined with forecast cash inflows and existing SPP funds, are expected to facilitate the completion of current international trials and the potential conversion of these trials into long-term contracts. Additionally, the capital will enable the installation of a second wave of trials and the conversion of the company's growing pipeline into new trials. RocketBoots remains optimistic about its future progress and looks forward to updating the market on its advancements.