Scout Security (ASX: SCT), a provider of white-label security-as-a-service platforms, announced that it has successfully completed the first tranche of its planned equity capital raising. The company received $600,000 before costs through a placement of 1,500,000 fully paid ordinary shares at an issue price of $0.40 per share. These shares will be issued under the company’s placement capacity as per ASX Listing Rule 7.1. Scout Security provides a white label security-as-a-service platform and product suite powering recurring revenue for security, internet service, and telecommunications providers.
The funds raised from this placement are earmarked for several key objectives. Scout Security intends to use the capital to satisfy existing creditors, complete outstanding periodic reports, and address other administrative and working capital requirements. This capital injection aims to stabilise the company’s financial position and facilitate its efforts to resume normal operations.
Scout Security is actively engaged in discussions regarding potential corporate and capital-raising proposals. The board intends to evaluate and implement these proposals with the goal of having the company’s securities reinstated to trading on the ASX as quickly as possible. Any potential transaction or reinstatement proposal will be subject to discussion with the ASX, including the application of Chapters 11 and 12, and completion of all outstanding periodic reports.
The company’s securities are currently suspended from trading, and the board has stated its commitment to reinstating them. Scout Security has pledged to keep shareholders informed about its progress toward relisting on the ASX.
