Xstate Targets $2 Million Raise and 300 Investors Ahead of ASX Return
Xstate Resources has extended its Re-compliance Prospectus Offer deadline to 21 August 2025, aiming to meet ASX conditions for re-admission by raising at least $2 million from 300 new investors.
- Offer period extended to 21 August 2025
- Minimum $2 million capital raise required for ASX re-admission
- Target of 300 new applicants to satisfy ASX conditions
- Planned acquisition of 51% interest in ATP 2077 by 28 August
- Expected ASX trading reinstatement by 9 September 2025
Xstate’s Path to ASX Reinstatement
Xstate Resources Limited (ASX – XST) has announced an extension to the closing date of its Re-compliance Prospectus Offer, moving the deadline to 21 August 2025. This strategic decision comes as the company works to satisfy key conditions set by the Australian Securities Exchange (ASX) for its re-admission to the official list.
The ASX requires Xstate to raise a minimum of $2 million from at least 300 new investors before it can reinstate trading of its shares. The company’s board remains confident that these targets will be met, prompting the extension to allow additional time for final applications and funds to be processed.
Capital Raising and Acquisition Plans
Alongside the capital raise, Xstate is progressing with the acquisition of a 51% stake in ATP 2077, a project that complements its existing portfolio. This acquisition is scheduled for completion by 28 August 2025, positioning the company to strengthen its asset base ahead of the anticipated trading reinstatement.
The company’s current assets include oil and gas exploration projects in California, USA, and the recently acquired Diona project in Queensland’s Surat Bowen Basin. The ATP 2077 acquisition is expected to enhance Xstate’s footprint in the energy sector, potentially unlocking new growth opportunities.
Looking Ahead to Reinstatement
Xstate aims to have its shares reinstated on the ASX by 9 September 2025, contingent on meeting all conditions and successfully completing the offer. Should the company fail to achieve reinstatement by 26 September 2025, it has committed to returning all funds received under the offer, in line with regulatory requirements.
Investors and prospective applicants can still participate via the company’s website or by contacting the company directly. The board has also indicated the offer may close earlier if the fundraising targets are met ahead of schedule, underscoring the importance of timely investor participation.
Bottom Line?
Xstate’s extended offer period is a critical step toward regaining ASX listing and advancing its growth strategy in oil and gas exploration.
Questions in the middle?
- Will Xstate secure the full $2 million and 300 new investors by the extended deadline?
- How will the acquisition of ATP 2077 impact the company’s valuation and operational outlook?
- What market reaction can be expected once Xstate’s shares resume trading on the ASX?
