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Sportshero Limited (ASX:SHO)

ALERT: Price-sensitive ASX Announcement for SHO
Current share price for SHO : $0.049 -0.039 (-44.32%)+
Announcement
Release
16 Feb 2026 9:24AM
Price at Release
$0.088
Full Release
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Summary
SportsHero Limited has secured $4.3 million in firm commitments through a private placement, issuing approximately 57.3 million shares at $0.075 each. This initiative, which has strong backing from both new and existing shareholders, including institutional investors, aims to bolster the company's financial strength to support its expansion strategy across Southeast Asia. CEO Tom Lapping's commitment of $300,000 to the placement is pending shareholder approval. The placement funds will facilitate commercial expansion, marketing, and operational financial needs. The offer price represents a 15% discount to the last closing price and a slight premium to the 15-day VWAP. Additionally, a sell down of 25 million existing shares by long-term shareholders has been arranged.
Key Points
  • SportsHero Limited receives firm commitments to raise $4.3 million via private placement.
  • Approximately 57.3 million ordinary shares to be issued at $0.075 per share.
  • CEO Tom Lapping commits $300,000 in the placement, pending shareholder approval.
  • Placement aims to strengthen financial position for expansion in SE Asia.
  • Funds to be used for expanding commercial agreements, securing Telco partnerships, increasing marketing spend, debt repayment, and working capital.
  • Placement price is a 15% discount to last close price and a 2.2% premium to the 15-day VWAP.
  • Joint Lead Managers arranged a sell down of 25 million existing shares.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.