Harris Technology Secures $1.49 million Through Private Placement

Highlights:

• Harris Technology (ASX: HT8) secures AU$1.494 million via private placement with Taiwan-based FSP Technology Inc. at 2 cents per share, a premium over the last closing price.
• Funds will support expansion into refurbished electronics, diversifying revenue streams and enhancing profit margins.
• FSP Technology to hold a 19.9% stake if all preference shares are converted, signaling strong confidence in HT8’s growth strategy.

Capital Raise to Support Expansion

Harris Technology Group Limited (ASX: HT8) has successfully secured A$1.494 million through a private placement with Taiwan-based FSP Technology Inc. (FSP). The capital raise involves the issuance of 74.7 million shares at 2 cents per share, representing a significant premium over HT8’s last closing price of 1 cent on March 3, 2025.

At the time of writing, HT8 shares were trading higher, reflecting investor confidence in the company’s

strategic direction and expansion plans.

Breakdown of the Placement

Under the agreement, HT8 will issue FSP:

• 29.83 million ordinary shares for $596,593.55
• 44.87 million redeemable preference shares for $897,406.45

If all preference shares are converted into ordinary shares, FSP will hold a 19.9% stake in HT8. The issuance will be conducted under ASX Listing Rule 7.1A.

Utilizing the Funds for Growth

The funds from this capital raise will support HT8’s expansion into high-growth product segments, particularly the refurbishment of pre-owned electronics. The company aims to diversify revenue streams, enhance margins, and optimize its eCommerce infrastructure.

HT8 CEO Garrison Huang emphasized the significance of this investment, stating:

"This capital raise strengthens our financial position, enabling us to scale operations, particularly in refurbished tech, while driving long-term shareholder value."

Strategic Partnership with FSP Technology

FSP Technology Inc. (TWSE: 3015) is a global leader in power supply manufacturing with a market cap exceeding A$580 million. Its investment signals confidence in HT8’s eCommerce model and growth trajectory.

The ordinary and preference shares are expected to be issued on March 14, 2025, marking a key

milestone in HT8’s expansion plans.

Disclaimer for Kapitales Research

The materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com