Capital raising details unveiled

Structural Monitoring Systems Plc (ASX: SMN) has unveiled a capital raising initiative to generate up to AUD $7.2 million. This involves a placement to investors, a Security Purchase Plan for CDI holders, and a Director Placement, subject to shareholder approval.

Capital raising strategy and future outlook

Structural Monitoring Systems Plc has embarked on a capital raising initiative, targeting AUD $7.2 million to fund product development, expand avionics manufacturing capabilities, and support CVM™ technology growth. The funds will bolster current year forecasts and facilitate future growth. The company is focused on certifying its Aft Pressure Bulkhead CVM™ application and securing sales agreements with major airlines such as Delta Air Lines and United Airlines. Increased investor interest is evident, with a scheduled investor webinar to discuss company progress. Bell Potter Securities leads the initiative, with settlement and allotment processes outlined for November and December.

Executive insights on capital raising

The capital raised will enable us to focus on product development and expand our manufacturing capabilities in avionics technologies. We are committed to achieving our current year forecasts and ensuring future growth. The certification of our Aft Pressure Bulkhead CVM™ application is anticipated next year.