Spenda Raises $1.4M to Drive Next-Gen Payment Solutions
Spenda Limited has successfully raised $1.4 million through a private placement, attracting both new and existing sophisticated investors to support its product development and working capital needs.
- Private placement raises $1.4 million at $0.0025 per share
- Investors receive attaching options exercisable at $0.005, expiring January 2028
- Board member Francis De Souza participates with $50,000 subscription
- Funds earmarked for product development and general working capital
- Shareholder approval required for options and director participation by March 31, 2026
Private Placement Details
Spenda Limited (ASX – SPX), a technology company specializing in integrated software and payment solutions, has announced a private placement raising $1.4 million before costs. The placement attracted firm commitments from a mix of new sophisticated investors, existing shareholders, and a member of the board, underscoring confidence in Spenda's strategic direction.
The shares are priced at a modest $0.0025 each, with an incentive of one free attaching option for every two shares subscribed. These options carry an exercise price of $0.005 and expire on 31 January 2028, pending shareholder approval. This structure aims to balance immediate capital injection with potential future upside for investors.
Use of Funds and Strategic Implications
The capital raised will primarily support ongoing product development efforts and general working capital requirements. Spenda’s platform integrates software, payments, and lending solutions to streamline supply chain transactions, a sector ripe for innovation and efficiency gains. By bolstering its development pipeline, Spenda positions itself to enhance its competitive edge and expand its market footprint.
Notably, director Francis De Souza has committed to participate in the placement with a $50,000 subscription, signaling internal confidence in the company’s prospects. However, his participation, along with the attaching options and broker options, awaits shareholder approval at a meeting scheduled before 31 March 2026.
Broker Involvement and Share Issuance
Lodge Corporate and Lynx Advisors acted as joint lead managers for the placement, receiving fees and broker options as part of their engagement. The company plans to issue approximately 540 million shares under its placement capacity rules, with certain shares and options subject to shareholder approval. The issuance timeline is indicative, with shares expected around mid-December 2025 and options by early April 2026.
This capital raise reflects a common strategy among ASX-listed tech firms to secure growth funding while managing dilution through option incentives. The success of this placement and subsequent shareholder approvals will be critical to Spenda’s ability to execute its product roadmap and maintain momentum in a competitive market.
Bottom Line?
Spenda’s latest capital raise sets the stage for accelerated innovation, but shareholder approval hurdles and dilution risks remain key watchpoints.
Questions in the middle?
- Will shareholders approve the attaching options and director participation as planned?
- How effectively will Spenda deploy the new funds to accelerate product development?
- What impact will the dilution from new shares and options have on existing shareholders’ value?
