Locate Technologies Limited (ASX:LOC), which operates Locate2u, a SaaS platform for last-mile delivery optimisation, and Zoom2u, an on-demand delivery marketplace, has announced it has successfully utilised its At-the-Market (ATM) Facility Agreement with Novus Capital Limited to raise an additional $392,564. This follows the company’s initial announcement regarding the ATM facility on May 29, 2025. Novus executed several Activation Notices issued by Locate Technologies between June 26, 2025, and July 1, 2025, subscribing for a total of 1,825,322 shares.
The shares were sold at varying subscription prices, with 500,000 shares sold on June 26 at $0.185, another 500,000 shares on June 30 at $0.230, a further 500,000 on June 30 at $0.240, and 325,322 shares on July 1 at $0.200. The total capital raised is A$392,564 (inclusive of costs), with an average issue price of A$0.215 per share. The shares were issued under ASX Listing Rule 7.1, representing a 15% placement capacity.
According to the company, these shares replenish those previously issued to Novus as collateral under the ATM Facility. This latest share issue increases the total amount raised under the ATM Facility to $1,268,244, at an average issue price of $0.16 per share. Following this issue, Locate Technologies reports approximately $2.05 million of available cash.
The company intends to use the funds raised in accordance with its Treasury Management Policy, further solidifying the Group’s financial position. Management continues to pursue growth in the company’s two key businesses and plans to share details of developments in each business when it lodges its Q4 FY25 Quarterly Activities report with the ASX.