Locate Raises A$239K via ATM, Expands Bitcoin Treasury to 10 BTC
Locate Technologies has raised an additional A$239,180 through its At-the-Market facility and expanded its Bitcoin treasury to over 10 BTC, reinforcing its financial strategy amid growth plans.
- Raised A$239,180 via At-the-Market Facility with Novus Capital
- Issued 1.69 million shares at an average price of A$0.141
- Total capital raised under ATM facility now A$555,680
- Purchased 4 Bitcoin at A$156,560 each, total holdings now 10.0892 BTC
- Funds to support strategic growth of Locate2u and Zoom2u platforms
Capital Raise Strengthens Balance Sheet
Locate Technologies Limited (ASX, LOC), the operator of last-mile delivery platforms Locate2u and Zoom2u, has successfully raised A$239,180 through its At-the-Market (ATM) facility with Novus Capital. This latest tranche involved issuing approximately 1.69 million ordinary shares at an average price of A$0.141, replenishing shares previously used as collateral under the facility. The total capital raised under this arrangement now stands at A$555,680, providing the company with additional financial flexibility.
Strategic Use of Funds
The funds raised are earmarked to support Locate Technologies’ strategic growth initiatives, although the company has not disclosed specific projects or operational expansions at this stage. Management emphasizes that the capital injection will strengthen the Group’s balance sheet, positioning it to pursue opportunities within its core SaaS delivery and logistics platforms.
Bitcoin Treasury Expansion
In a notable treasury update, Locate Technologies revealed a recent purchase of 4 Bitcoin at an average price of A$156,560 per coin, adding to its existing holdings. The company now holds a total of 10.0892 BTC, with an aggregate capital allocation of approximately A$1.63 million. This move underscores the company’s commitment to Bitcoin as a long-term strategic reserve asset, aimed at capital preservation and financial resilience.
Focus on Core Delivery Platforms
Despite the growing Bitcoin position, Locate Technologies remains firmly focused on its technology-first business model. Its two primary platforms, Locate2u, a SaaS solution for delivery fleet management, and Zoom2u, an on-demand delivery marketplace, continue to be the operational heart of the company. Management has signaled that further updates on these businesses will be provided in the upcoming Q4 FY25 Quarterly Activities report.
Looking Ahead
Locate Technologies’ dual approach of bolstering its balance sheet through capital raises while diversifying treasury assets into Bitcoin reflects a nuanced strategy in a competitive and evolving market. Investors will be watching closely for how these financial maneuvers translate into operational growth and market traction in the months ahead.
Bottom Line?
Locate Technologies’ latest capital and treasury moves set the stage for growth, but the market will await concrete operational progress.
Questions in the middle?
- How will Locate Technologies deploy the new capital to accelerate growth?
- What risk management strategies are in place for Bitcoin volatility in the treasury?
- When will the company provide detailed operational updates on Locate2u and Zoom2u?
