Harvest Raises A$1.63M at A$0.014 per Share with Attaching Options
Harvest Technology Group has raised approximately A$1.63 million through a placement of new shares, accompanied by free attaching options, to fund its technology development and partially repay debt. The move signals confidence in its mission-critical remote operations solutions.
- Placement raises ~A$1.63 million via 116.55 million new shares at A$0.014 each
- Free attaching unlisted options exercisable at A$0.025 offered with shares
- Funds to support core technology platforms and partial early debt redemption
- Joint lead managers Alto Capital and SP Corporate Advisory to receive fees and options
- Shareholder approval required for options and manager shares in April 2026
Capital Raise Details
Harvest Technology Group Limited (ASX: HTG), a Perth-based leader in network optimised remote operations, has announced a placement to raise approximately A$1.63 million. The company will issue 116.55 million fully paid ordinary shares at an issue price of A$0.014 per share, representing a discount of 12.5% to the closing price on 23 February 2026. Alongside the shares, investors will receive free attaching unlisted options exercisable at A$0.025 within two years, subject to shareholder approval.
Purpose and Use of Funds
The proceeds from the placement are earmarked primarily to bolster Harvest's core technology platforms, which underpin its remote control, communication, and automation capabilities. Additionally, A$200,000 will be allocated to a partial early redemption of the RiverFort Funding Facility, reducing the company’s debt burden. The remainder will support general working capital needs, including corporate and administrative expenses.
Placement Management and Shareholder Approval
Alto Capital and SP Corporate Advisory Pty Ltd acted as joint lead managers for the placement. They will receive a 6% cash fee on funds raised, along with unlisted options and shares, all subject to shareholder approval expected at a general meeting in April 2026. The placement shares will be issued under the company’s existing ASX placement capacities, allowing for a swift capital injection without immediate dilution concerns for existing shareholders.
Strategic Implications
This capital raising reflects Harvest Technology’s ongoing commitment to advancing its network optimised livestreaming solutions, which enable ultra-low bandwidth remote operations globally. The partial debt repayment improves the company’s financial flexibility, potentially positioning it better for future growth opportunities, especially in defence-aligned and mission-critical sectors. However, the issuance of new shares and options will dilute existing equity, a factor shareholders will weigh at the upcoming meeting.
Looking Ahead
With the placement expected to complete by early March 2026 and shareholder approval for options and manager shares anticipated in April, Harvest Technology is poised to accelerate its technology development and operational capabilities. The market will watch closely how these funds translate into tangible progress and whether the company can leverage its strengthened balance sheet to capture new contracts and partnerships.
Bottom Line?
Harvest’s latest capital raise sets the stage for growth but hinges on shareholder approval and execution of its technology roadmap.
Questions in the middle?
- Will shareholders approve the issuance of free attaching options and manager shares in April?
- How will the partial early redemption of debt impact Harvest’s financial health and future borrowing capacity?
- What new contracts or partnerships might Harvest secure leveraging this capital injection?
