Swift Networks Group Ltd (ASX: SW1) has announced the successful completion of an oversubscribed placement, raising $1.6 million before costs. Swift is a specialist technology company delivering a premium entertainment and engagement platform powered by proprietary technology and network infrastructure. The company provides tailored solutions to sectors like mining, aged care, and government. The placement involved the issue of 118,570,375 fully paid ordinary shares at $0.0135 each to institutional and sophisticated investors. Investors will also receive one free-attaching unquoted option for every four shares subscribed, exercisable at $0.03 within two years.
The placement was managed by Lynx Advisors Pty Ltd, acting as the lead manager. Shares will be issued under the company’s existing placement capacity, utilising both the 15% capacity under Listing Rule 7.1 and the 10% capacity under Listing Rule 7.1A. The issue price represents a 19% discount to the last closing share price and a 23% discount to the fifteen-day volume-weighted average price. Swift’s board and management contributed $125,000 to the placement, with the Sofoulis Family, a substantial shareholder, subscribing for $100,000.
Funds raised from the placement are earmarked for the acceleration of the Swift TV rollout and for general working capital purposes. Settlement of the placement is expected to occur on 8 October 2025. The company will pay the lead manager a 6% brokerage fee (plus GST) on funds raised from investors introduced by them. Additionally, subject to shareholder approval at the upcoming AGM in November 2025, the lead manager will receive 12,500,000 options with an exercise price of $0.03 and 12,500,000 options with an exercise price of $0.04, both expiring three years from the date of issue.
Brian Mangano, CEO of Swift, expressed his satisfaction with the support received, stating that the funds will enable Swift to expand Swift TV into new verticals and markets, advancing the company’s strategic objectives. The announcement was approved and authorised for release by the Managing Director of Swift.
