Titomic Limited share placement announcement

Titomic Limited (ASX: $TTT) has successfully secured firm commitments to raise AUD 4.5 million through a share placement to existing sophisticated and professional investors. The placement involves the issuance of 90,000,000 new fully paid ordinary shares at an issue price of AUD 0.05 per share, representing a 10% discount to the share price as at close on 23 April 2024. The new shares are scheduled to be issued on 1 May 2024, with normal trading expected to commence on 2 May 2024. The funds raised will be utilized to develop increased manufacturing capacity and provide working capital to fulfill recently awarded customer orders.

Executive commentary on the share placement

The successful completion of the share placement reflects the confidence and support of our existing sophisticated and professional investors in Titomic's growth trajectory. The additional funds will enable us to expand our manufacturing capacity and meet the increasing demand from our customers. We are committed to leveraging this capital to further strengthen our position as a leading provider of cold spray solutions in the global market.

Summary of Titomic Limited's share placement announcement

Titomic Limited (ASX: $TTT) has announced the successful completion of a $4.5 million share placement to existing sophisticated and professional investors. The funds raised will be directed towards expanding manufacturing capacity and providing working capital to fulfill recently awarded customer orders. This strategic move aligns with Titomic's commitment to meeting the growing demand for its cold spray solutions and reinforces its position as a key player in the industrial-scale metal additive manufacturing sector. The company's forward-looking approach aims to capitalize on the opportunities presented by the increasing adoption of its patented cold spray additive manufacturing technology across diverse industries.