NoviqTech Limited (ASX: NVQ), a technology company developing and providing various tech-driven solutions, has announced it has secured firm commitments to raise approximately $1.805 million before costs through a placement to sophisticated and professional investors. The placement involves the issue of up to approximately 51.5 million fully paid ordinary shares at an issue price of $0.035 per share, representing a 10.3% discount to the company’s last traded price of $0.039 on 10 June 2026.
Prenzler Group Pty Ltd and Peak Asset Management Pty Ltd acted as joint lead managers for the Placement. Cash fees of $30,000 are payable, alongside an additional 7,961,029 shares to WFC Nominees Australia Pty Ltd in lieu of consultancy and broker fees. The Placement Shares will rank equally with NoviqTech’s existing fully paid ordinary shares, and a cleansing prospectus will be lodged to facilitate their on-sale without further disclosure.
The Placement’s completion is conditional upon shareholder approval at NoviqTech’s upcoming annual general meeting (AGM), due to existing placement capacity restrictions. Directors Timothy Brooks, Niv Dagan, and Darren Scott committed to subscribe for approximately 6.7 million Placement Shares, totalling around $235,000, also subject to AGM approval. Net proceeds are primarily for subsidiary NoviqTech Services Pty Ltd’s operations, with a portion for Coralia’s Great Barrier Reef Project and Placement costs.
NoviqTech’s securities remain suspended from official quotation. The company is engaging with the ASX regarding reinstatement requirements, and the Placement is expected to form part of its proposed funding package. However, the specific funding package composition deemed satisfactory by the ASX is not yet finalised. NoviqTech emphasised that neither the Placement’s completion nor cleansing prospectus lodgement guarantees reinstatement, which remains at the ASX’s discretion.
