Scout Security Ltd (ASX: $SCT) announces pro-rata entitlement issue and new options

Scout Security Ltd (ASX: $SCT) has revealed a pro-rata non-renounceable entitlement issue, offering three shares for every two shares held, at an issue price of $0.004 per share. Additionally, the company will provide one free new option for every share applied for and issued. The aim is to raise up to approximately $1,575,119 through this offer. The offer is partially underwritten by PAC Partners Securities Pty Ltd. The company has also included secondary offers such as an offer of convertible note shares, loan note shares, fee shares, placement shares, and a cleansing offer. It's important to note that the prospectus contains forward-looking statements and emphasizes the speculative nature of the securities offered.

Executive Commentary on the Announcement

The company is pleased to announce the pro-rata entitlement issue and the offering of new options. This strategic move is aimed at raising funds to support our ongoing operational and corporate costs, including employee wages and debt conversion. We have taken into consideration the speculative nature of the securities offered and have provided detailed information in the prospectus to ensure transparency for our shareholders. The engagement with underwriters and legal advisors has been crucial in structuring this offer, and we are committed to adhering to our regular reporting and disclosure obligations as a disclosing entity. We encourage our shareholders to carefully review the prospectus and consider the associated risks before making any decisions.

Summary of Scout Security Ltd's Announcement

Scout Security Ltd (ASX: $SCT) has announced a pro-rata non-renounceable entitlement issue and the terms of new options, convertible note options, loan note options, fee options, and placement options. The company aims to raise up to approximately $1,575,119 through this offer, with the funds intended to be applied towards employee wages, debt conversion, and ongoing operational and corporate costs. The prospectus contains forward-looking statements and emphasizes the speculative nature of the securities offered. It also provides detailed information about the terms of the new options and other securities, as well as various aspects of the company's operations and obligations. Shareholders are encouraged to review the prospectus carefully and consider the associated risks before participating in the offer.