FBR Receives Funds, Restructures for Sustainability

FBR Limited (ASX:FBR) has finalized its A$6.3 million placement, receiving the final ~A$0.54 million from Tranche 2 after shareholder approval. The company is issuing 53,820,242 shares at A$0.01 each, completing the placement initially announced on March 27, 2025. Proceeds are partially allocated to restructuring costs, focusing on significant headcount reduction to achieve sustainable cost levels, detailed in the March Quarterly Activities Report. FBR now maintains a team of approximately 25, focused on Hadrian X® unit operation, commissioning, and R&D projects like collaborations with Samsung Heavy Industries. The company has consolidated operations into a single premise at 88 Sultana Road, exiting the 122 Sultana Road location. FBR plans to repay approximately $400,000 in loans, strengthening its financial position and flexibility. These strategic moves aim to conserve key intellectual property and potential developed over recent years, as FBR focuses on commercializing its Dynamic Stabilisation Technology across various industries, including shipbuilding, steel, and energy.