Highlights
- RocketBoots has received firm commitments for A$3.0 million at 8c per share in a well-supported Placement to new and existing institutional and sophisticated investors
- The Company sees a significant global market, including the world’s largest retailers and banks, to scale its AI Computer Vision technology which delivers powerful loss prevention and workforce optimisation solutions
- Funds will be used to support sales and revenue generating initiatives across a global enterprise customer pipeline that will ultimately drive the Company’s international expansion strategy.
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Artificial Intelligence software company RocketBoots Limited (ASX:ROC) (RocketBoots or the Company), is pleased to announce that is has received firm commitments to raise A$3.0 million at A$0.08 per share (Offer Price) (before costs) in a well-supported placement to new and existing institutional and sophisticated investors (Placement).
Placement Details
The Placement will be issued to institutional and sophisticated investors in two tranches. Tranche one will raise A$2.32 million via the issue of 29.0 million fully paid ordinary shares (New Shares) under the Company’s existing ASX Listing Rule 7.1 (17,342,500 shares) and 7.1A (11,657,500 shares) capacity (Tranche One).
Tranche two will raise A$0.68 million via the issue of 8.5 million New Shares subject to receiving shareholder approval at an extraordinary general meeting (EGM) to be held on or around late May 2025 (Tranche Two).
As part of Tranche Two, the Company’s Chair, Roy McKelvie, and Director, Cameron Petricevic, have committed to subscribe for a total of A$90,000 in the Placement, subject to receiving shareholder approval at the Company’s EGM.
The New Shares issued under the Placement will rank pari passu with the Company’s existing fully paid ordinary shares.
Taylor Collison Limited and Originate Capital Pty Ltd acted as joint lead managers (JLMs) to the Placement. A fee of 6.0% (plus GST) on proceeds raised and 3,00,000 unlisted options at a $0.12 exercise price with an expiry date 3 years from completion of the Offer (expected to be on or around 31 May 2028) .
The timeline of activities associated with the Placement are outlined in Table 1.
The Offer Price of $0.08 per share represents a:
- 20.0% discount to the closing price of ROC shares on 26 March 2025; and a
- 13.6% discount to the 15-day VWAP.
Commenting on the Placement, RocketBoots Chief Executive, Joel Rappolt, said:
“We believe there is a large and visible global market for our AI Computer Vision technology which delivers material ROI outcomes to our customers through loss prevention and workforce optimisation. Retail shrinkage in particular continues to be a significant issue affecting retailers and ultimately consumers. Market commentary suggests that industry losses have more than doubled over the past five years1.
Our existing customers and prospects include the world’s largest retailers and banks, and we continue to work across a number of opportunities to deliver meaningful outcomes to our customers so that RocketBoots’ technology is embedded in their operational architecture to drive revenue improvements.
With the completion of this capital raise, RocketBoots will be well positioned to scale the business appropriately to secure significant share in global retail grocery and banking markets.”
Use of Funds
The Placement proceeds will be utilised to continue RocketBoots’ execution of sales initiatives across its global enterprise customer pipeline, and for general working capital purposes (including the costs of the Placement).
Link to ASX Release: https://bit.ly/4c82KF4
Media and Investor contact:
Joel Rappolt
Chief Executive Officer
[email protected]
Elvis Jurcevic
Investor Relations
0408268271
[email protected]
