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Investors have been invited to fund the company's global expansion.
archTIS has received commitments for a placement of 28,260,870 fully paid ordinary shares to both domestic and international institutions and sophisticated investors.
The company aims to raise a total of $6.5 million at an issue price of $0.23 per share (Placement).
Eligible shareholders in Australia and New Zealand will also be offered the opportunity to participate in a share purchase plan (SPP) to raise up to $1.5 million in additional funds, valued at the same price as the Placement.
Participants in both the Placement and SPP will be eligible for one option to acquire a share – exercisable at $0.35, expiring two years from the date of issue – for every three shares received under the offerings.
According to the company, funds raised would be invested in:
- launching and introducing Kojensi into key regional markets of US FED and the UK;
- exploring and executing a mergers and acquisitions strategy, which drives product, customer and geographical expansion towards greater ARR; and
- building a pipeline and close opportunities in conjunction with the Microsoft field through IP Co-sell across Defence and other regulated industries.
“We were pleased to see such strong demand from domestic and international institutions following our recent decision to be quoted on the OTCQB market,” Daniel Lai, archTIS managing director and CEO, said.
“A diversified shareholder base bolsters our strategic efforts to scale our information security technologies in the US and globally.”
Lai expects to leverage the company’s experience in the Australian Defence in other geographical regions to accelerate the pipeline through the alliance with Microsoft IP Co-sell.
“archTIS is now well placed to execute on our global product and sales strategy,” he added.
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