Excite Secures $2.8M to Power Cybersecurity and Training Expansion
Excite Technology Services has raised $2.8 million through a placement to accelerate growth in cybersecurity services and training, including investment in its flagship Nangu Tactical Centre.
- Raised $2.8 million via placement at a 9.1% premium
- Funds allocated to Nangu Tactical Centre and offensive security services
- Placement supported by institutional and sophisticated investors
- Plans to accelerate revenue growth and pursue acquisitions
- Nangu Centre to deliver advanced cyber and digital forensics training
Capital Raise to Fuel Strategic Growth
Excite Technology Services Limited (ASX: EXT) has successfully completed a $2.8 million placement, issuing approximately 233 million new shares at $0.012 each, representing a 9.1% premium to the previous closing price. The capital raise, backed by both new and existing institutional and sophisticated investors, is designed to accelerate the company’s organic growth initiatives within the cybersecurity sector.
The placement accounts for roughly 12.8% of existing shares on issue and was executed under the company’s placement capacity without requiring shareholder approval. This swift capital injection reflects strong market confidence in Excite’s strategic direction and growth prospects.
Investing in the Nangu Tactical Centre and Offensive Security
A significant portion of the funds, $1.12 million, is earmarked for the development of the Nangu Tactical Centre, a pioneering cyber and digital forensics training facility in the Asia-Pacific region. Backed by a $3 million federal grant awarded to Excite’s subsidiary CBIT Pty Ltd, the centre aims to deliver immersive, real-world training environments tailored for Defence, Government, and State Law Enforcement agencies.
The facility will feature ISO-accredited digital forensics labs, a mock courtroom, and scenario-based incident response arenas. Designed to close the cyber skills gap, it is expected to train over 800 students annually and become a cornerstone of Excite’s high-margin training and consulting services.
Additionally, $700,000 will be invested in expanding Excite’s Offensive Security Services (OSS), which complements its existing cybersecurity consultancy offerings. This move is intended to support new sales initiatives anticipated to materialize in the coming quarter, further diversifying revenue streams.
Strategic Outlook and Market Positioning
Excite’s Managing Director and CEO, Bryan Saba, emphasised that the capital raise will enhance core capabilities in digital forensics, cyber training, and offensive security, directly supporting revenue-generating opportunities already underway. The company is building momentum across Defence, Government, and critical infrastructure sectors, positioning itself as a national leader in cybersecurity.
In addition, Excite is actively evaluating acquisition opportunities aimed at strengthening cross-sell potential, increasing customer engagement, and delivering EBITDA accretion. While details remain undisclosed, these potential deals could further accelerate the company’s growth trajectory.
The placement proceeds also include $800,000 allocated to general working capital, bolstering the balance sheet to support high-profile tender activities currently in progress. This financial flexibility is critical as Excite seeks to capitalise on expanding market demand for advanced cybersecurity solutions.
Implications for Investors and the Cybersecurity Landscape
Excite’s strategic investments underscore the growing importance of cybersecurity and digital forensics in Australia’s national security framework. The Nangu Tactical Centre, in particular, represents a unique asset that could differentiate Excite in a competitive market, offering advanced practitioner education and incident response capabilities.
Institutional investor support for the placement signals confidence in Excite’s ability to execute its growth plans and deliver accretive returns within the next 12 months. However, the success of acquisitions and new sales initiatives will be key factors to monitor in upcoming quarters.
Bottom Line?
Excite’s $2.8 million raise sets the stage for accelerated growth, but execution on acquisitions and sales will be critical to sustaining momentum.
Questions in the middle?
- Which acquisition targets is Excite currently evaluating, and what impact might they have?
- How soon will the Nangu Tactical Centre begin generating meaningful revenue?
- What new sales initiatives are expected to materialize from the expanded Offensive Security Services?
