Spacetalk Limited (ASX:SPA) Equity Raising Update

Spacetalk Limited (ASX:SPA) has successfully closed the institutional component of the Accelerated Non-Renounceable Entitlement Offer (Entitlement Offer) and Placement, raising a total of A$1.6 million. The funds, together with existing cash, will be utilized for the purchase of inventory, data-led growth marketing, and new product development, including the Adventurer 3 device, the Spacetalk APP, Life 2 device, related software, and firmware.

Executive Commentary on Equity Raising

We are pleased to announce the successful completion of the institutional component of the Equity Raising, which has raised a total of A$1.6 million. This achievement reflects the confidence of our investors in Spacetalk's growth prospects and the strategic initiatives we are undertaking. The funds raised will enable us to further invest in our product development and marketing efforts, positioning us for continued innovation and expansion in the family safety technology market.

Summary of Spacetalk's Equity Raising and Outlook

Spacetalk Limited (ASX:SPA) has concluded the institutional component of its Equity Raising, securing A$1.6 million to support its strategic objectives. The successful closure of this phase demonstrates investor confidence in the company's vision and growth trajectory. The upcoming retail component of the Entitlement Offer is anticipated to raise additional funds, further bolstering Spacetalk's financial position. With the proceeds, the company aims to enhance its product offerings, particularly focusing on the development of the Adventurer 3 device, the Spacetalk APP, and the Life 2 device. This investment aligns with Spacetalk's commitment to delivering comprehensive digital solutions that prioritize safety and security for families and remote workers. Looking ahead, Spacetalk remains dedicated to advancing its proprietary ecosystem and solidifying its position as a leader in the family safety and connected wearables industry.