ASX Suspension Continues as Scout Security Raises Capital to Settle Debts
Scout Security has completed the first tranche of a $600,000 capital raise amid its ASX trading suspension, aiming to settle debts and progress towards relisting.
- Raised $600,000 through placement of 1.5 million shares at $0.40 each
- Funds allocated to creditor payments, outstanding reports, and working capital
- Company’s shares remain suspended from ASX trading
- Ongoing discussions about further capital raising and corporate proposals
- Board committed to reinstating trading as soon as possible
Capital Raise Completion
Scout Security Limited (ASX – SCT), a provider of white label security-as-a-service solutions, has successfully completed the first tranche of its planned capital raising, securing $600,000 before costs. This was achieved through the placement of 1.5 million fully paid ordinary shares at an issue price of $0.40 per share, issued under the company’s placement capacity.
Purpose and Use of Funds
The freshly raised capital is earmarked primarily for settling existing creditor obligations, finalising outstanding periodic reports, and supporting ongoing administrative and working capital needs. These steps are critical for Scout Security as it navigates the challenges posed by its current suspension from ASX trading.
Suspension and Reinstatement Efforts
Scout Security’s shares have been suspended from trading on the ASX, a status the company is actively seeking to reverse. The Board has expressed a clear commitment to reinstating the company’s securities as soon as practicable. To this end, Scout is engaged in ongoing discussions regarding potential corporate transactions and additional capital raising proposals, which will be carefully assessed and pursued with the goal of meeting ASX requirements for relisting.
Looking Ahead
Any future corporate or capital raising initiatives will be subject to prior consultation with the ASX, particularly concerning compliance with relevant listing rules and the completion of all outstanding periodic reports. The company has invited shareholders to stay informed through its Investor Hub, signalling transparency and engagement during this pivotal period.
Scout Security’s platform powers recurring revenue streams for major security, internet service, and telecommunications providers worldwide, positioning it well for recovery and growth once trading resumes.
Bottom Line?
Scout Security’s capital raise marks a crucial step toward ASX relisting, but the path ahead remains closely watched.
Questions in the middle?
- What are the timelines and conditions for Scout Security’s ASX reinstatement?
- How will the company’s broader capital raising and corporate proposals shape its future?
- What impact will the suspension and capital raise have on Scout Security’s operational momentum?
