Why Did PARKD’s Share Purchase Plan Attract Double Its Target?
PARKD Limited has successfully closed its Share Purchase Plan, raising $220,000; well above the initial $120,000 target; following a recent $780,000 placement. This capital boost underscores strong shareholder confidence in the company’s innovative building solutions.
- Share Purchase Plan raised $220,000, exceeding $120,000 target
- 7.33 million new shares issued at $0.03 each
- Followed a $780,000 placement at the same share price
- Scale-back applied to excess applications with refunds to be processed
- Funds support PARKD’s modular car park structural system development
Strong Shareholder Support Drives Oversubscribed SPP
PARKD Limited (ASX, PKD) has announced the completion of its Share Purchase Plan (SPP), which closed on October 10, 2025, with applications totaling $290,000. The company exercised its discretion to accept $220,000 of these applications, significantly surpassing the original $120,000 target outlined in the SPP booklet. This oversubscription reflects robust shareholder confidence in PARKD’s growth prospects.
The SPP shares will be issued at $0.03 each, consistent with the price set in a recent $780,000 placement announced in late September. A total of 7,333,334 new fully paid ordinary shares will be allocated to participating shareholders, with excess application funds to be refunded in due course. The company has encouraged shareholders to update their banking details promptly to facilitate timely refunds.
Capital Raising to Fuel Innovation in Building Solutions
PARKD operates as a technology-enabled building solutions provider, specialising in modular construction systems. Its flagship intellectual property is the PARKD Car Park Structural System, a lightweight, prefabricated concrete modular car parking solution designed for commercial and industrial applications. The system’s modularity allows for flexible adaptation to changing parking demands, including relocation or expansion.
The fresh capital raised through the SPP and recent placement is expected to support the ongoing development and commercialisation of this innovative technology. While the company has not detailed specific deployment plans for the funds, the strong shareholder backing signals optimism about PARKD’s strategic direction and market potential.
Looking Ahead, Execution and Market Response
With the SPP now closed and funds secured, PARKD’s next challenge will be translating this financial support into tangible progress on its modular car park system and broader building solutions offerings. Investors will be watching closely for updates on project milestones, contract wins, and revenue growth in upcoming financial disclosures.
Moreover, the scale-back of applications and refund process will require careful management to maintain shareholder goodwill. The company’s proactive communication and efficient handling of refunds will be critical in sustaining investor confidence.
Bottom Line?
PARKD’s oversubscribed capital raise sets the stage for advancing its modular building technology, but execution will be key to justifying shareholder enthusiasm.
Questions in the middle?
- How exactly will PARKD allocate the funds raised through the SPP and placement?
- What is the timeline for commercial rollout and revenue generation from the modular car park system?
- How will the company manage shareholder relations during the refund and scale-back process?
