Simble Solutions Raises $527K, Welcomes New Chairman, and Bets on Blockchain
Simble Solutions Limited has secured $527,375 through a strategic capital raising and appointed Faldi Ismail as its new Non-Executive Chairman, signaling a renewed focus on growth and innovation including blockchain investments.
- Placement raises $500,000 at 17% discount
- Additional $27,375 raised via ATM facility cancellation
- Faldi Ismail appointed Non-Executive Chairman
- Funds partly invested in Bittensor (TAO) blockchain
- Options granted to new chairman and lead managers pending shareholder approval
Capital Raising to Strengthen Balance Sheet
Simble Solutions Limited (ASX – SIS), a player in the energy and sustainability software sector, has announced a capital raising totaling $527,375. This comprises a $500,000 placement to sophisticated and professional investors and an additional $27,375 raised through the cancellation of its At-The-Market (ATM) facility. The placement shares were issued at $0.0025 each, representing a 17% discount to the last traded price, aiming to bolster the company's working capital and support its growth ambitions.
Strategic Investment in Blockchain Technology
Notably, Simble plans to allocate approximately $200,000 of the raised funds to invest in Bittensor (TAO), a decentralized AI blockchain network. This move reflects the company's belief in the potential synergy between blockchain technology and its core energy and sustainability software platforms, CarbonView and SimbleSense. By staking TAO tokens, Simble aims to generate additional revenue streams through staking rewards, enhancing cash flow without risking token custody.
Board Reshuffle Signals New Direction
In a significant leadership change, Faldi Ismail has been appointed as Non-Executive Chairman, replacing Steve Thornhill who will remain on the board as a Non-Executive Director. Ismail brings over two decades of experience in capital markets, corporate strategy, and capital raising, particularly within technology and energy sectors. His appointment is accompanied by a grant of 30 million options, exercisable at $0.0035 and contingent on share price performance, subject to shareholder approval.
Incentivising Growth Through Options
Further aligning interests, the joint lead managers of the placement, Kaai Capital and Prenzler Group, will receive fees partly settled in shares and options. The 150 million options granted to them will vest based on the company achieving specific volume-weighted average price (VWAP) milestones, incentivizing performance and shareholder value creation.
Outlook for Simble Solutions
Simble Solutions operates across Australia, the UK, and Vietnam, focusing on energy efficiency, carbon tracking, and renewable energy infrastructure. This capital raising and board refreshment come at a pivotal time as the company seeks to scale its software platforms and leverage emerging technologies like blockchain. While the blockchain investment introduces new opportunities, its long-term impact remains to be seen, hinging on market adoption and execution.
Bottom Line?
Simble’s fresh capital and leadership pivot set the stage for innovation; but blockchain bets add a layer of uncertainty.
Questions in the middle?
- How will the TAO blockchain investment perform amid volatile crypto markets?
- What strategic initiatives will the new chairman prioritize to drive revenue growth?
- Will shareholder approval for options be secured, and how might this affect share dilution?
