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Spacetalk Ltd (ASX:SPA)

ALERT: Price-sensitive ASX Announcement for SPA
Current share price for SPA : $0.091 0.016 (21.33%)+
Announcement
Release
27 Mar 2026 9:57AM
Price at Release
$0.075
Full Release
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Summary
Spacetalk Ltd announced firm commitments from institutional and professional investors to raise approximately $6.0 million through a two-tranche placement of fully paid ordinary shares. Tranche 1 involves the immediate issuance of 15,694,712 shares raising approximately $941,683 under the company's existing placement capacity. Tranche 2, involving 84,535,288 shares to raise approximately $5,072,117, is subject to shareholder approval expected in May 2026. The funds will be used for enhancing the Spacetalk app, investing in inventory, MVNO wholesale costs, and working capital. Additionally, Andrew Grover will be appointed as an independent Non-Executive Director, subject to completion of onboarding processes.
Key Points
  • Spacetalk Ltd to raise $6 million via two-tranche placement.
  • Tranche 1 to raise ~$941,683, Tranche 2 to raise ~$5,072,117 pending approval.
  • Funds to enhance Spacetalk app and cover inventory, MVNO costs.
  • Andrew Grover appointed as Non-Executive Director.
  • Placement managed by Taurus Capital Group, to receive a 6% fee.
  • Shareholder meeting in May 2026 for Tranche 2 approval.
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.