Catapult’s Bold Capital Raise Risks Shareholder Dilution Amid Expansion
Catapult Sports has launched a Share Purchase Plan (SPP) offering eligible shareholders in Australia and New Zealand the chance to buy shares at a discount, following a recent A$130 million institutional placement and its acquisition of IMPECT GmbH.
- Share Purchase Plan open to Australian and New Zealand shareholders
- SPP offers up to A$30,000 per shareholder at a discounted price
- Follows a A$130 million institutional placement completed mid-October
- Funds to strengthen balance sheet and support future M&A
- Acquisition of German company IMPECT GmbH for €40 million
Capital Raising Strategy
Catapult Sports Ltd, a leader in sports technology, has announced a Share Purchase Plan (SPP) aimed at raising up to A$20 million from its existing shareholders in Australia and New Zealand. This move comes on the heels of a successful A$130 million institutional placement completed earlier this month, signaling the company’s aggressive capital raising strategy to fuel growth and acquisitions.
The SPP allows eligible shareholders to purchase additional shares up to a value of A$30,000 without brokerage fees, at a price set at the lower of A$6.68 per share or a 2% discount to the volume weighted average price leading up to the offer’s close on November 5, 2025. This pricing represents a meaningful discount to recent trading levels, designed to incentivize shareholder participation.
Backing the IMPECT Acquisition
Proceeds from the SPP will bolster Catapult’s balance sheet following its recent acquisition of IMPECT GmbH, a German company specializing in sports technology solutions. The acquisition, valued at €40 million (approximately US$46 million), was announced on October 13, 2025, and is expected to enhance Catapult’s product offerings and market reach in Europe.
Catapult’s Executive Chairman, Dr Adir Shiffman, emphasized the strategic importance of the acquisition and the capital raising efforts, noting that the SPP will provide the company with additional financial flexibility to pursue further strategic mergers and acquisitions. The directors have also committed to participate in the SPP, signaling confidence in the company’s growth trajectory.
Shareholder Participation and Terms
The SPP is open exclusively to shareholders registered as of October 10, 2025, residing in Australia or New Zealand. Shareholders can apply for parcels ranging from A$1,000 up to the maximum A$30,000, with the company reserving the right to scale back applications if demand exceeds the targeted raise. Importantly, the SPP is not underwritten, which places the onus on shareholder uptake to meet the funding target.
Applications can be made via BPAY for Australian shareholders or electronic funds transfer for New Zealand shareholders without Australian bank accounts. The offer closes at 5 – 00pm Melbourne time on November 5, 2025, after which allocations will be determined.
Looking Ahead
Catapult’s dual capital raising initiatives; the institutional placement and the SPP; reflect a clear strategy to strengthen its financial position while expanding its technological capabilities through acquisitions. The success of the IMPECT integration and the level of shareholder participation in the SPP will be key indicators of the company’s momentum as it navigates a competitive sports technology landscape.
Bottom Line?
Catapult’s capital raising and acquisition moves set the stage for accelerated growth, but shareholder appetite for the SPP will be a critical test.
Questions in the middle?
- Will shareholder demand meet or exceed the A$20 million SPP target?
- How will the integration of IMPECT GmbH impact Catapult’s revenue and margins?
- What future M&A opportunities might Catapult pursue with the strengthened balance sheet?
