WhiteHawk Raises AU$2.0 million for AI Cybersecurity Growth

WhiteHawk Limited (ASX: WHK) successfully secured AU$2.0 million through a share placement at AU$0.0225 per share, with each participant receiving one free option for every two shares issued. These funds will primarily fuel business sales growth, leveraging the rising interest in Artificial Intelligence (AI) and Machine Learning (ML) within the cybersecurity domain, supporting working capital needs.

The company plans to use the proceeds for customer channel expansion, advancing its risk framework channel sales, scaling AI-based virtual cyber analyst hubs, and general working capital. The oversubscribed placement, managed by Alpine Capital, reflects strong investor confidence, especially from those focused on cybersecurity and AI technologies. The issuance of new shares is scheduled for Friday, 8 March 2024, marking a significant step in WhiteHawk's journey as a global AI-based cybersecurity exchange.

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