Hiremii’s Oversubscribed Placement Hinges on Shareholder Approval

Strong Capital Raise Reflects Investor Confidence

Hiremii Group (ASX, HMI), a technology-driven recruitment company, has completed a $650,000 placement that was oversubscribed, highlighting robust demand from both existing shareholders and new investors. The capital raise is a clear endorsement of the company's strategy to commercialise its AI-powered recruitment platform and expand its market footprint.

Notably, Hiremii’s directors; Andrew Hornby, Conor O’Brien, and Sophie Chen; have collectively subscribed for $75,000 worth of shares and options, aligning their interests closely with shareholders and reinforcing confidence in the company’s growth trajectory.

Strategic Deployment of Funds

The funds raised will be strategically allocated to accelerate the commercialisation of the Hiremii platform, which leverages machine learning and artificial intelligence to streamline recruitment processes. This includes advancing customer-driven enhancements and AI-led optimisation initiatives designed to improve candidate shortlisting and recruitment efficiency.

Additionally, Hiremii plans to pursue strategic acquisitions that complement its core technology and recruitment services, aiming to strengthen its position in the competitive recruitment technology sector. The capital will also support general working capital needs as the company navigates this critical growth phase.

Placement Structure and Next Steps

The placement involves issuing 15.48 million fully paid ordinary shares at $0.042 each, accompanied by one option per share exercisable at $0.05 within two years. The issue price represents a 16.8% discount to the recent volume-weighted average price, a typical incentive to attract investors.

The placement will be executed in two tranches. The first tranche, raising approximately $575,000, will be settled under existing ASX placement capacities, expected around mid-October. The second tranche, involving director participation, requires shareholder approval at the upcoming Annual General Meeting on 27 November 2025.

Bay Financial and Sequoia Corporate Finance acted as joint lead managers, earning a 6% capital raising fee for their services. Hiremii’s Managing Director Andrew Hornby expressed gratitude for the strong support and emphasised the company’s commitment to scaling its AI-driven recruitment capabilities.

Looking Ahead

As Hiremii moves into this next phase, the successful capital raise provides a solid foundation to accelerate innovation and growth. However, the finalisation of the second tranche remains contingent on shareholder approval, introducing some uncertainty around the total funds available and timing.