Superloop has reached a significant milestone under its exclusive Origin Energy contract, surpassing 250,000 broadband subscribers and triggering a share issuance obligation.
- Over 250,000 Origin broadband subscribers now on Superloop’s network
- Milestone 4 achievement triggers share issuance to Origin
- Shares priced at 30-day VWAP on milestone date
- Share issuance subject to shareholder and regulatory approvals
- Issued shares locked up voluntarily for 12 months
Milestone Achievement Marks Growth in Wholesale Broadband
Superloop Limited (ASX: SLC) has announced the achievement of Milestone 4 under its exclusive six-year wholesale internet services contract with Origin Energy Retail Ltd. As of 4 March 2026, more than 250,000 Origin broadband subscribers are now connected via Superloop’s network, a significant marker of progress in this strategic partnership.
This milestone not only reflects strong subscriber growth but also activates a contractual obligation for Superloop to issue shares as consideration for reaching and maintaining this customer base. The shares will be priced based on the 30-day volume weighted average price (VWAP) on the date the milestone was achieved, aligning the share value with recent market performance.
Share Issuance and Regulatory Oversight
The issuance of milestone shares is contingent upon shareholder approval and any necessary regulatory consents, underscoring the importance of governance and compliance in this process. Additionally, the shares issued will be subject to a voluntary lock-up period of 12 months, which aims to provide market stability and reassure investors about the long-term commitment of the parties involved.
Superloop’s Managing Director and CEO have authorised the release of this update, signalling confidence in the company’s trajectory and the value of its infrastructure-on-demand platform. Since its listing on the ASX in 2015, Superloop has focused on enabling challenger retail brands to expand their market share by leveraging its fibre, subsea cables, and fixed wireless assets.
Implications for Superloop and the Market
Reaching over a quarter of a million subscribers under the Origin contract highlights Superloop’s growing footprint in the wholesale internet services market. This milestone not only strengthens its revenue base but also enhances its strategic positioning against larger incumbents. However, the exact dilution impact from the share issuance remains uncertain until shareholder and regulatory approvals are finalised.
Investors will be watching closely for updates on the timing and scale of the share issuance, as well as any further subscriber growth milestones. The partnership with Origin Energy Retail Ltd continues to be a cornerstone of Superloop’s growth strategy, and this milestone achievement reaffirms the company’s ability to deliver on its contractual commitments.
Bottom Line?
Superloop’s milestone signals robust growth but leaves investors awaiting clarity on share issuance details and future subscriber momentum.
Questions in the middle?
- What will be the exact number of shares issued following Milestone 4?
- When will shareholder and regulatory approvals for the share issuance be secured?
- How will Superloop’s subscriber growth trend beyond the current milestone?