RocketBoots Limited has slightly increased its recent capital raising, issuing an additional 100,000 shares to raise a total of A$7.025 million, reinforcing its push into international markets.
- Placement increased to 28.1 million shares at $0.25 each
- Gross proceeds raised now A$7.025 million
- Shares issued under ASX Listing Rules 7.1 and 7.1A
- Director to participate subject to shareholder approval
- Funds to accelerate international expansion remain unchanged
Placement Amendment Details
RocketBoots Limited (ASX – ROC) has announced a minor but notable amendment to its previously disclosed $7 million placement. The company will now issue 28.1 million new fully paid ordinary shares at an offer price of $0.25 per share, raising gross proceeds of approximately A$7.025 million. This adjustment adds 100,000 shares to the original placement, reflecting a modest increase in capital raised.
The shares will be issued under the company’s existing capacity, leveraging ASX Listing Rules 7.1 and 7.1A, which allow for the placement of new shares without immediate shareholder approval. Specifically, 10.87 million shares will be issued under Rule 7.1, and 17.13 million under Rule 7.1A. Importantly, the new shares will rank equally with existing ordinary shares, maintaining shareholder equity balance.
Strategic Use of Funds
RocketBoots confirms there is no material change to the use of funds from the proceeds of this placement. The capital injection is earmarked to accelerate the company’s international expansion efforts, a strategic priority given RocketBoots’ focus on AI-powered solutions for retail loss prevention and branch optimisation. These technologies address pressing industry challenges such as retail shrinkage, self-checkout losses, and operational inefficiencies in banking branches.
The company’s AI-driven software aims to reduce losses at self-checkouts without compromising customer experience, optimise staffing costs, and enhance service delivery across retail and banking networks. This capital raise supports scaling these solutions globally, tapping into growing demand for advanced loss prevention and operational optimisation tools.
Governance and Shareholder Engagement
Notably, a director of RocketBoots intends to participate in the placement by subscribing for 100,000 shares at the same offer price, subject to shareholder approval at the upcoming general meeting. This participation signals confidence from within the company’s leadership and aligns interests with shareholders.
The company has lodged an additional Appendix 3B with the ASX to reflect this amendment, ensuring transparency and compliance with regulatory requirements. While the announcement does not detail any changes to the timing or deployment of funds, it reinforces RocketBoots’ commitment to disciplined capital management and growth execution.
Looking Ahead
As RocketBoots moves forward with its international expansion, investors will be watching closely for updates on how the additional capital is deployed and the impact on revenue growth and market penetration. The company’s focus on AI-driven retail and banking solutions positions it well to capitalise on evolving industry trends, but execution remains key.
Bottom Line?
This slight increase in capital raising underscores RocketBoots’ steady momentum as it scales globally, with investor confidence hinging on execution and shareholder backing.
Questions in the middle?
- How will the additional funds specifically accelerate RocketBoots’ international expansion?
- What impact will the director’s participation have on shareholder sentiment and governance?
- How soon can investors expect to see tangible results from the capital deployment?