Swift Networks’ $1.6M Raise Hinges on Shareholder Approval and Execution
Swift Networks Group has completed an oversubscribed $1.6 million placement to fund the rollout of its Swift TV platform, with strong backing from insiders and major shareholders.
- Raised $1.6 million via placement at $0.0135 per share
- Placement includes free-attaching options exercisable at $0.03
- Board, management, and Sofoulis Family participated in the raise
- Funds earmarked for Swift TV development and working capital
- Lead manager Lynx Advisors to receive fees and options pending approval
Swift Networks' Oversubscribed Placement
Swift Networks Group Limited (ASX – SW1) has successfully completed a $1.6 million capital raise through a placement of over 118 million shares at a price of 1.35 cents each. The placement was oversubscribed, reflecting strong investor appetite for the company’s growth prospects, particularly its Swift TV platform.
The placement price represented a discount of 19% to the last closing price and 23% to the recent volume-weighted average price, a common feature in capital raises aimed at incentivising participation. Alongside the shares, investors received free-attaching options exercisable at 3 cents, valid for two years, offering potential upside if the company’s share price appreciates.
Insider and Major Shareholder Support
Notably, Swift’s board and management contributed $125,000 to the placement, signalling confidence in the company’s strategic direction. Additionally, the Sofoulis Family, a substantial shareholder, subscribed for $100,000 worth of shares, reinforcing alignment between management and key investors.
The company will seek shareholder approval at its upcoming AGM for the issue of shares and options to related parties, including the lead manager Lynx Advisors, who will receive a brokerage fee and options as part of their mandate.
Funding Swift TV’s Growth Ambitions
The proceeds from the placement are earmarked primarily for accelerating the rollout of Swift TV, Swift Networks’ proprietary entertainment and engagement platform. The company aims to expand into new verticals and markets, leveraging its end-to-end technology solutions tailored for sectors such as mining, aged care, and government.
Swift CEO Brian Mangano emphasised that the capital injection will enable the company to advance its strategic objectives and drive growth in a competitive technology landscape.
Looking Ahead
Settlement of the placement is expected on 8 October 2025, with shareholder approvals to follow at the November AGM. The success of this capital raise sets the stage for Swift Networks to enhance its market presence and deliver on its promise of community-focused entertainment solutions.
Bottom Line?
Swift Networks’ fresh capital positions it to accelerate Swift TV’s market expansion, but execution and shareholder approvals remain key hurdles.
Questions in the middle?
- How will Swift Networks prioritise deployment of funds across markets and verticals?
- What impact will the dilution from the placement and options have on existing shareholders?
- Will shareholder approval for lead manager options proceed smoothly at the AGM?
