SenSen Networks Limited (ASX: $SNS) Entitlement Offer Completion

SenSen Networks Limited (ASX: $SNS) has successfully completed its Entitlement Offer, raising approximately $2.09 million. The offer, which closed on Monday, 18 December 2023, saw approximately $0.68 million raised from eligible shareholders, with the entirety of the $1.41 million shortfall to be taken up by Ankla Pty Ltd under the underwriting arrangement. The funds raised will be utilized for the project outlined in the recently signed contract with the National Heavy Vehicle Regulator.

Executive Commentary on Entitlement Offer Completion

SenSen Networks Limited is pleased to announce the successful completion of the Entitlement Offer. The overwhelming support from eligible shareholders, including all Directors and senior managers of SenSen taking up their Entitlement, demonstrates confidence in the company's strategic direction and the project outlined in the contract with the National Heavy Vehicle Regulator. The underwriting arrangement with Ankla Pty Ltd further strengthens our financial position and ensures the seamless execution of the project. We are excited about the opportunities this funding will unlock and remain committed to delivering innovative solutions in the smart urban management space.

Summary of Entitlement Offer Completion and Outlook

SenSen Networks Limited (ASX: $SNS) has successfully raised approximately $2.09 million through its Entitlement Offer, with Ankla Pty Ltd set to take up the $1.41 million shortfall under the underwriting arrangement. The funds will be utilized to proceed with the project outlined in the contract recently signed with the National Heavy Vehicle Regulator. The completion of the offer and the underwriting arrangement reflect strong confidence in SenSen's initiatives and its Live Awareness AI Platform. Looking ahead, the company aims to leverage this funding to further advance its AI-driven technology and continue making significant contributions to smart urban management solutions.