RocketBoots Limited (ASX:ROC) has announced a successful A$3.0 million placement to institutional and sophisticated investors. The funds, raised at A$0.08 per share, will fuel the company’s international expansion strategy, focusing on sales and revenue generation within its global enterprise customer pipeline. The placement occurred in two tranches, with A$2.32 million raised immediately under existing ASX listing rules and the remaining A$0.68 million contingent on shareholder approval at an extraordinary general meeting (EGM) expected in late May 2025. Company Chair Roy McKelvie and Director Cameron Petricevic have committed a combined A$90,000 to the second tranche, pending EGM approval.
The offer price represents a 20.0% discount to the closing price on March 26, 2025, and a 13.6% discount to the 15-day VWAP. Joint lead managers Taylor Collison Limited and Originate Capital Pty Ltd facilitated the placement, earning a 6.0% fee (plus GST) on proceeds and receiving 300,000 unlisted options. RocketBoots plans to use the proceeds to scale its AI Computer Vision technology, targeting significant share in global retail grocery and banking markets. CEO Joel Rappolt emphasizes the large market for their technology, which addresses loss prevention and workforce optimization, citing substantial retail shrinkage losses. The company’s existing and prospective clients include major retailers and banks, with the goal of embedding their technology into operational infrastructures to improve revenues. The timeline includes settlement of Tranche One shares on April 3, 2025, and anticipated EGM approval and subsequent Tranche Two settlement around late May 2025.
