Overview of Zimi's completion of the retail entitlement offer

Zimi Limited (ASX:ZMM) has successfully concluded the retail component of its 2 for 1 pro rata accelerated renounceable entitlement offer, raising $120,294 from valid applications for new fully paid shares. The Retail Entitlement Offer closed at 7:00pm (AEST) on Thursday, 26 September 2024, marking the second stage of Zimi's capital raising of up to $2.53 million, as announced on Wednesday, 21 August 2024.

Executive commentary on the completion of the retail entitlement offer

The completion of the retail entitlement offer signifies a significant milestone for Zimi. We are pleased with the response from our shareholders and the successful outcome of the offer. The funds raised will support our ongoing efforts to innovate and expand our product range, enabling us to continue creating smarter living and working spaces for our customers. We appreciate the support of our shareholders and look forward to delivering on our strategic initiatives in the coming months.

Summary of Zimi's retail entitlement offer and future plans

Zimi Limited (ASX:ZMM) has raised $120,294 from valid applications in the retail entitlement offer, with a total of 241,300,039 retail entitlements not taken up. These entitlements will be offered for sale in the retail shortfall bookbuild. The company, known for its innovative technology solutions, aims to capitalize on the multi-billion-dollar Australian market and expand its product line to adjacent sectors. Additionally, Zimi is exploring opportunities for offshore expansion through partnerships with global manufacturers. The successful completion of the retail entitlement offer will contribute to the company's strategic growth plans and ongoing commitment to enhancing smart living and working spaces for its customers.