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An update from SPACETALK Limited ( (AU:SPA) ) is now available.
Spacetalk Ltd has secured firm commitments from institutional and professional investors to raise approximately $6 million through a two-tranche placement of 100,230,000 new shares at $0.06 each, representing a significant discount to recent trading prices. The first tranche of about $0.94 million will be issued under existing placement capacity in early April, while the larger second tranche of about $5.07 million, which includes director participation, remains subject to shareholder approval at a general meeting expected in May 2026.
Proceeds from the capital raising will be directed toward enhancing the Spacetalk app, funding inventory and MVNO wholesale costs, and general working capital, supporting the company’s growth and operational needs. Spacetalk has also initiated the appointment of Andrew Grover as an independent non-executive director, strengthening its board, and has engaged Taurus Capital Group as lead manager, which will receive a cash fee and proposed options package, highlighting continued institutional backing despite the discounted issue price and potential dilution for existing shareholders.
The most recent analyst rating on (AU:SPA) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on SPACETALK Limited stock, see the AU:SPA Stock Forecast page.
More about SPACETALK Limited
Spacetalk Ltd is an Australian-listed technology company that develops and markets connected wearables and associated mobile applications, targeting families and children. Its offerings combine hardware devices with the Spacetalk app and mobile virtual network operator (MVNO) services, with a focus on safety, communication, and subscription-based recurring revenue in consumer telecom-adjacent markets.
Average Trading Volume: 243,668
Technical Sentiment Signal: Sell
Current Market Cap: A$7.85M
Learn more about SPA stock on TipRanks’ Stock Analysis page.