Locate Technologies Secures NZ$10 Million ATM Facility, Proposes 3.4 Million Share Buy-Back

Strategic Capital Restructuring

Locate Technologies Limited has announced a significant shift in its capital management approach by terminating its existing Australian At-The-Market (ATM) Facility with Novus Capital Limited. This move marks a strategic pivot as the company simultaneously enters into a new NZ$10 million ATM Facility through its New Zealand-incorporated holding company, Locate NZ.

The termination of the Australian ATM Facility is accompanied by a proposed buy-back and cancellation of 3,401,041 fully paid ordinary shares that were previously issued as collateral under the facility. Notably, no consideration will be payable for this buy-back, which is contingent on shareholder approval at the company’s Annual General Meeting scheduled for 28 November 2025.

New Zealand Market Focus and Bitcoin Treasury Strategy

The new ATM Facility, designed to operate similarly to the previous Australian arrangement, provides Locate NZ with flexible capital-raising capabilities in the New Zealand market. This facility is a key enabler for Locate NZ’s Bitcoin Treasury Strategy, which the company plans to pursue following its anticipated listing on the NZX. The listing itself remains subject to approval of the scheme of arrangement by shareholders and regulators.

Locate Technologies’ move to establish a New Zealand holding company and secure a dedicated ATM Facility there reflects a broader strategic realignment. It positions the company to leverage New Zealand’s capital markets while supporting innovative treasury management practices involving cryptocurrency assets.

Implications for Shareholders and Market Participants

For shareholders, the proposed buy-back and cancellation of shares could have a positive impact on earnings per share and overall capital structure, assuming approval is granted. However, the lack of consideration for the buy-back shares and the pending nature of approvals introduce an element of uncertainty.

Market participants will be watching closely how Locate Technologies navigates the regulatory landscape around its NZX listing and the execution of its Bitcoin Treasury Strategy. The company’s ability to raise capital efficiently through the new ATM Facility will be critical to funding its growth and innovation initiatives in the logistics software sector.