Simble Solutions Limited Raises Capital Through $298k Placement

Highlights:

• Capital Raised: Simble Solutions Limited (ASX: SIS) has successfully raised $298,367 through an equity placement at a price of $0.0036 per share, representing a 10% discount to the closing price as of 6 November 2024.
• Equity Issuance and Options: The placement will involve issuing 82,879,584 shares, along with 55,253,056 options, pending shareholder approval at an Extraordinary General Meeting.
• Fund Utilization: The funds will be used for working capital purposes to support Simble's growth and sustainability initiatives, particularly its CarbonView and SimbleSense platforms.

Simble Solutions Limited (ASX: SIS), a leader in sustainability solutions, has successfully secured a firm commitment to raise $298,367 through a placement of new equity capital. This raise was made to a professional and sophisticated investor, marking an important step in the company’s ongoing growth and financial strategy.

Key Terms of the Placement

• Placement Price: The shares will be issued at $0.0036 per share, a 10% discount to Simble’s closing price of $0.004 on 6 November 2024. This price represents a 6% premium to the 15-day Volume Weighted Average Price (VWAP).
• Equity Issuance: The company will issue 82,879,584 fully paid ordinary shares under its ASX Listing Rule 7.1 capacity.
• Options: In addition, 55,253,056 options will be issued. These options will have an exercise price at the greater of $0.0036 or a 15% discount to the 15-day VWAP immediately prior to exercise, with an expiration date set for 9 months from issue. Approval from Simble’s shareholders will be required for the options at an upcoming Extraordinary General Meeting.

Utilization of Funds

The capital raised will be directed toward working capital purposes, supporting Simble's strategic initiatives and furthering its commitment to sustainability solutions, including its CarbonView and SimbleSense platforms.

At the time of writing, Simble Solutions continues to be a major player in sustainability, providing innovative software and consulting services aimed at helping businesses reduce their carbon emissions and improve energy efficiency.

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