• Successful completion of fully underwritten institutional placement and entitlement offer
• Raised A$40 million before costs
• Funds to be used for acquisition of Peak Parking, L.P.

Smart Parking Limited (ASX:SPZ) has announced the successful completion of the institutional component of its equity raising, which includes a fully underwritten institutional placement and institutional entitlement offer. The placement and institutional entitlement offer raised a total of A$40 million (before costs) through the issue of 36.6 million new shares at an offer price of A$0.88 per share. The equity raising was fully underwritten by Canaccord Genuity and attracted strong demand from existing institutional shareholders as well as new domestic and international investors. The proceeds from the equity raising will be used, in part, to acquire all of the issued and outstanding equity interests of Peak Parking, L.P., a Texas limited partnership, and to meet associated transaction costs. Smart Parking's CEO, Paul Gillespie, expressed delight with the support for the company's growth strategy and H1 FY25 results, and welcomed new investors to the share register. The retail component of the entitlement offer seeks to raise an additional A$5 million and will open on 24 February 2025, closing on 7 March 2025.