Thrive Tribe Targets $618,736 in 1-for-2 Share Offer at $0.003 Each
Thrive Tribe Technologies has announced a 1-for-2 pro-rata non-renounceable entitlement offer at $0.003 per share, aiming to raise approximately $618,736 to support its working capital needs. The offer closes on 10 October 2025 and targets eligible shareholders in Australia, New Zealand, and Malaysia.
- 1-for-2 pro-rata entitlement offer at $0.003 per share
- Target raise of approximately $618,736 before costs
- Offer open to eligible shareholders in Australia, New Zealand, and Malaysia
- Funds primarily allocated to working capital and offer costs
- Non-renounceable offer with dilution risk for non-participants
Entitlement Offer Details
Thrive Tribe Technologies Limited (ASX, 1TT), a technology company focused on its Mytribe e-commerce marketplace platform, has launched a pro-rata non-renounceable entitlement offer to raise up to approximately $618,736. Eligible shareholders are invited to subscribe for one new share for every two shares held as of 7, 00pm Sydney time on 26 September 2025, at an offer price of $0.003 per share. The offer closes at 5, 00pm Sydney time on 10 October 2025.
The offer is being managed by Clee Capital Pty Ltd and is available to shareholders with registered addresses in Australia, New Zealand, and Malaysia, explicitly excluding those in the United States. The new shares issued will rank equally with existing shares, and the company expects to list the new shares on the ASX on a deferred settlement basis from 13 October 2025.
Purpose and Use of Funds
The funds raised from the entitlement offer will primarily support the company’s working capital requirements, with approximately 90% of the proceeds allocated for this purpose. The remaining 10% will cover the costs associated with conducting the offer, estimated at around $60,000. This capital injection aims to provide Thrive Tribe with the financial flexibility to continue developing its platform and executing its growth strategies.
Participation and Dilution Risks
The entitlement offer is non-renounceable, meaning shareholders cannot trade or transfer their entitlements. Shareholders who do not participate risk dilution of their holdings by up to 33.33%, depending on the uptake of the offer by others. To mitigate this, the company offers a Top Up Facility allowing eligible shareholders (excluding directors and related parties) who fully subscribe to their entitlement to apply for additional shares not taken up by others.
Thrive Tribe’s chairman, Rumi Guzder, emphasized the pro-rata nature of the offer as a fair mechanism to reward ongoing shareholder support and maintain ownership levels. However, shareholders are encouraged to carefully consider the offer and seek independent advice if uncertain.
Key Risks Highlighted
The offer booklet outlines several risks inherent to Thrive Tribe’s business and the broader market. These include technological competition that could render the Mytribe platform obsolete, customer retention challenges, and the highly competitive nature of the human resources technology sector. Cybersecurity threats and potential regulatory changes around data privacy also pose risks to the company’s operations.
Additionally, the company’s growth strategy depends heavily on successful sales and marketing campaigns and the ability to attract and retain key personnel. Investors should also be mindful of the dilution risk from future capital raisings and the volatility of equity markets.
Next Steps for Shareholders
Eligible shareholders can participate by submitting payment via BPAY or electronic funds transfer by the closing date. The company has reserved the right to extend the offer period, accept late applications, or withdraw the offer entirely before allotment. Shareholders are advised to review the full offer booklet and consider the implications carefully before deciding.
Bottom Line?
Thrive Tribe’s entitlement offer marks a critical step in securing working capital, but shareholder participation will be key to avoiding dilution and supporting the company’s growth ambitions.
Questions in the middle?
- What level of shareholder uptake will the entitlement offer achieve by the closing date?
- How will Thrive Tribe deploy the raised funds to accelerate platform growth and user acquisition?
- What impact might ongoing technology competition and cybersecurity risks have on the company’s future performance?
