AI assistant
SPACETALK LTD Capital/Financing Update 2023
65842_rns_2023-08-27_6c09bdcb-9f09-4ec8-bfb4-4e1c64cd5530.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
ASX Announcement | 28 August 2023 Spacetalk Limited (ASX: SPA)
Spacetalk Launches Entitlements Offer
Highlights
• Launch of Rights Issue to raise $2.73 million.
Spacetalk Limited (ASX: SPA) ("Spacetalk" or "the Company") is pleased to announce a nonrenounceable Rights Issue on a 1-for-2.5 basis to raise up to a further 2.73 million through the issue of 124.4 million shares at an issue price of $0.022 per share and 62.2 million free attaching Options exercisable at $0.035 and expiring on 22 September 2025 (Options).
Lead Manager
Veritas Securities Limited acted as lead manager to the Placement announced to ASX on 24 August 2023, and will act as lead manager to the Rights Issue and will receive up to 6% of the total combined capital raised as the fee for this service, plus 4,000,000 options and a further 1 option for every $1.50 raised, exercisable at $0.035 and expiring on 22 September 2025, subject to shareholder approval.
Underwriting
The Rights Issue is underwritten to $850,000 by Tiga Trading Pty Ltd and Thorney Technologies Ltd (Underwriter).
The Underwriter has a relevant interest in 18,197,974 Shares and 9,098,987 Options through its interest in TIGA Trading Pty Ltd, a Shareholder of the Company. The Underwriter has agreed to subscribe for its full Entitlement under the Offer in respect of all of the Shares in which it has a relevant interest and to subscribe for 20,438,410 Shares and 10,219,205 New Options under the shortfall offer.
The Underwriter will receive one (1) option for every one (1) Share subscribed for and issued in accordance with the Underwriting Agreement between the Company and the Underwriter, on the same terms and conditions as the Options (Underwriter Options), subject to Shareholder Approval. In the event that Shareholder Approval is not obtained by the Company for the issuance of the Underwriter Options, the Company will pay a fee of 8% of the underwritten sum to the Underwriter.
1
A summary of key dates associated with the capital raising follows.
| Lodgement of Prospectus with the ASIC | 28August 2023 |
|---|---|
| Lodgement of Prospectus and Appendix 3B with ASX | 28August 2023 |
| Ex date | 31August 2023 |
| Record Date for determining Entitlements | 1 September 2023 |
| Issue of Shares under Placement | 6 September2023 |
| Offer opening date, Prospectus sent out to Shareholders andCompany announces this has been completed | 6 September2023 |
| Last day to extend the Closing Date | 19September 2023 |
| Closing Date as at 5:00pm ACST* | 22September 2023 |
| Shares quoted on a deferred settlement basis | 25September 2023 |
| ASX and Underwriter notified of under subscriptions | 25September 2023 |
| Underwriter subscribes forpart ofShortfall under terms ofUnderwriting Agreement | 27 September 2023 |
| Issue date and lodgement of Appendix 2A with ASX applying forquotation of the Shares | 28September 2023 |
| Quotation of Shares issued under the Offer** | 29September 2023 |
This ASX announcement has been authorised by the Board of Spacetalk Limited (ASX: SPA)
For further information, please contact:
Simon Crowther The Capital Network CEO and Managing Director Julia Maguire T: 1300 087 423 P: +61 2 8999 3699
Spacetalk Limited (ASX: SPA) Media & Investor Enquiries E: [email protected]
2
About Spacetalk Limited (ASX:SPA)
Spacetalk Limited (ASX:SPA) is a software services and smartwatch hardware product developer. As a package, the company's technology platform provides a complete digital communication solution that supports safety and security for families across their life cycles and for employees working in remote settings. The company's unique proprietary ecosystem, which has continued to evolve over time, is today recognised as a leader in family safety and the connected wearables industry.
The Spacetalk technology platform comprises both market-leading hardware and a trusted, client-controlled software platform that provides safety and security to users via the benefits of mobile technology.
The multi-functional Software-as-a-Service Spacetalk App can be customised, giving clients the ability to enable or disable individual features. Parents are empowered to block their child's access to the open internet, social media and inappropriate adult content while simultaneously blocking calls and messages from unknown senders. The app can also track the location of vulnerable family members, including children and seniors requiring constant monitoring.
Spacetalk's best-in-class software platform additionally supports children's development by facilitating engaging, confidence-building experiences that the whole family can participate in and enjoy.
Spacetalk's core hardware, its smartphone-watch, is effectively a child's first mobile phone. It offers all the benefits of a smartphone, operating on a secure, private and parent-controlled ecosystem that can be customised to reflect each family's needs and values.
3
To learn more, please visit: www.spacetalk.co
For more information
Follow us on Facebook Follow us on LinkedIn
Subscribe on our YouTube
Follow us on Instagram