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RocketBoots Ltd. ( (AU:ROC) ) has shared an update.
RocketBoots Limited has secured firm commitments to raise A$7 million through a placement of 28 million new shares at A$0.25 each, attracting strong demand from new and existing sophisticated investors, including four new institutional investors, with a director also set to participate subject to shareholder approval. The funds will be directed towards accelerating the company’s international expansion following a recently announced A$9.1 million annual recurring revenue global contract with a tier-one retailer, scaling its global team, upgrading its technology architecture to improve margins, converting its enterprise sales pipeline and supporting working capital needs, moves that collectively are intended to strengthen RocketBoots’ growth trajectory and competitive position in the global AI loss-prevention market.
More about RocketBoots Ltd.
RocketBoots Limited (ASX: ROC) is an Australian technology company that provides proprietary AI-driven loss-prevention platforms, targeting large enterprise and global retail customers. The company focuses on scaling software-driven solutions that enhance operational efficiency and reduce losses for tier-one retailers and other international clients, underpinning a growing base of annual recurring revenue contracts.
Average Trading Volume: 388,320
Technical Sentiment Signal: Buy
Current Market Cap: A$45.4M
See more insights into ROC stock on TipRanks’ Stock Analysis page.