• Firm commitments received from institutional and wholesale investors
• Funds to be used for inventory purchase, geographical expansion, new app ecosystem development
• Placement to support Spacetalk's goal of $20-25m ARR in 2026

Spacetalk Ltd (ASX: SPA) has announced that it has received binding commitments to raise $1.265 million through a placement to institutional and wholesale investors. The placement will see the company issue 9,035,715 new fully paid ordinary shares at $0.14 per share. The funds raised will be used to support Spacetalk's growth initiatives, including the purchase of inventory, geographical expansion, development of a new app ecosystem, and costs associated with the offer. Commenting on the placement, Spacetalk Managing Director Simon Crowther stated that the capital raise will enable the company to push further into new geographies, complete development of its next generation of kids' and seniors' hardware, and launch a new software experience for customers and users through the new app. These initiatives are expected to drive subscriptions as Spacetalk remains focused on delivering $20-25 million in annual recurring revenue (ARR) by 2026.

Spacetalk is targeting $20-25 million in annual recurring revenue (ARR) by 2026.

The funds raised from the placement will enable Spacetalk to accelerate its growth initiatives, including geographical expansion, new product development, and the launch of a new app ecosystem, which are expected to drive increased subscriptions and help the company achieve its $20-25 million ARR target by 2026.