• Revised strategic focus on three core products: mobile, nbn, and fibre
• Partially underwritten, accelerated non-renounceable entitlement offer to raise up to $10.0 million
• Board changes with new independent directors to be appointed

Swoop Holdings Ltd (SWP.ASX) has announced a revised strategic focus on three core products: mobile virtual network operator (MVNO), nbn, and fibre. The company is pleased to announce a partially underwritten, accelerated non-renounceable entitlement offer to raise up to $10.0 million. The entitlement offer will be a 1 for 2.14 offer at $0.10 per new share, representing a 25.4% discount to the theoretical ex-rights price. The proceeds will be used to fund capital expenditure for the Melbourne Fibre Project and ongoing working capital and transaction costs. The Board has responded to shareholder feedback by launching a 'Focus. Divest. Grow' strategy to simplify the business and improve returns. As part of this transition, James Spenceley has stepped down as Chair but will remain an independent non-executive director. A new Board nomination committee will appoint two additional independent non-executive directors, including a new Board Chair and Audit & Risk Committee Chair, with relevant telecommunications, governance, and audit expertise by 31 March 2026.

FY25 revenue of $106.5 million, up 20% year-on-year, and underlying EBITDA of $15.2 million.