Sparc Raises A$1.03M in Oversubscribed Share Purchase Plan
Sparc Technologies has successfully closed its Share Purchase Plan, raising more than double its initial target, signaling strong shareholder confidence as it advances its green hydrogen and graphene projects.
- Share Purchase Plan oversubscribed, raising A$1.03 million
- Original SPP target was A$500,000
- Total of 6.84 million new shares to be issued at A$0.15 each
- Funds complement recent A$2.2 million share placement
- Capital to support ecosparc commercialisation and hydrogen pilot at Roseworthy
Strong Shareholder Backing
Sparc Technologies Limited (ASX, SPN) has announced the successful closing of its Share Purchase Plan (SPP), which attracted valid applications totaling A$1,026,214; more than double its original target of A$500,000. This oversubscription reflects robust support from the company’s existing shareholders, underscoring confidence in Sparc’s strategic direction and technology portfolio.
The SPP closed on 29 May 2025, with the company exercising its discretion to accept all valid applications in full. As a result, Sparc will issue 6,841,491 new fully paid ordinary shares at A$0.15 each, the same price as shares issued under a recent placement.
Financial Platform for Growth
This capital injection complements a share placement completed earlier in May, which raised A$2.2 million. Together, these funds provide Sparc with a strengthened financial foundation to pursue its key objectives. Managing Director Nick O’Loughlin highlighted that the proceeds will support the commercialisation of Sparc’s ecosparc graphene-based additives, which enhance epoxy protective coatings at low dosages, as well as advance Sparc Hydrogen’s pilot activities at Roseworthy in South Australia.
These initiatives are central to Sparc’s vision of delivering sustainable, environmentally friendly technologies. The ecosparc additive is already being trialed with global coatings companies and large asset owners, while Sparc Hydrogen is pioneering next-generation green hydrogen production through photocatalytic water splitting; a method that uses sunlight and water without electrolysers, potentially lowering costs and infrastructure needs.
Market Implications and Outlook
The strong demand for the SPP signals positive market sentiment around Sparc’s innovative technologies and growth prospects. The company’s ability to raise capital efficiently from both institutional and retail shareholders bodes well for its capacity to execute on development milestones and commercial partnerships.
Looking ahead, the issuance of new shares scheduled for 5 June 2025 will increase Sparc’s capital base, enabling it to accelerate research, development, and pilot programs. However, investors will be watching closely for updates on commercial traction for ecosparc and tangible progress in the hydrogen pilot, which remain critical to validating Sparc’s long-term value proposition.
Bottom Line?
Sparc’s oversubscribed capital raise sets the stage for its next growth phase; but execution on its green tech ambitions remains key.
Questions in the middle?
- How soon will Sparc’s ecosparc additive achieve commercial sales agreements?
- What milestones are expected next for the Sparc Hydrogen pilot at Roseworthy?
- Will the company pursue further capital raises or partnerships to scale production?
