Spacetalk Secures $1.265 Million Through Oversubscribed Capital Raise

Highlights:

• Spacetalk Ltd (ASX: SPA) raises $1.265 million through an oversubscribed placement to institutional and wholesale investors.
• Funds will support inventory growth, global expansion, and the launch of a new app ecosystem aimed at driving subscription-based revenue.
• Shares to be issued at $0.14 each—a 15.2% discount to the last closing price—with settlement expected on April 11, 2025.

Funds to Accelerate Product Expansion and App Ecosystem Development

Spacetalk Ltd (ASX: SPA) has successfully completed a capital raise of $1.265 million via an unconditional placement to institutional and wholesale investors. At the time of writing, the funds raised are expected to support the company’s strategic growth plans, including inventory procurement, international expansion, and the development of a next-generation app ecosystem.

The placement will see the issue of 9,035,715 new fully paid ordinary shares at $0.14 per share. This issue price reflects a 15.2% discount to the last closing price of $0.165 and a 29.4% discount to the 5-day volume-weighted average price (VWAP) of $0.1982 as of April 7, 2025.

Driving Toward Growth Targets

According to Spacetalk Managing Director Simon Crowther, the capital injection is a crucial step toward the company’s goal of achieving $20–$25 million in annual recurring revenue (ARR) by 2026. “The raise enables us to extend into new geographies and finalise the development of both our next-gen hardware and a revamped app, which will significantly enhance our product ecosystem,” he said.

The funds will specifically contribute to scaling operations, increasing subscription revenue, and bringing differentiated features to the market for children and senior users.

Placement Details and Timeline

The new shares will be issued under Spacetalk’s existing placement capacity as per ASX Listing Rule 7.1. Settlement is scheduled for Friday, April 11, 2025, with allotment expected on Monday, April 14, 2025. Unified Capital Partners Pty Ltd is acting as the lead manager and will receive a 6% fee on the total capital raised.

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