• Firm commitments to raise ~A$7.0m via a placement of 35.0m shares at A$0.20 per share
• Share Purchase Plan offer to raise up to a further A$1m
• Proceeds to support sales growth and product manufacturing

HighCom Limited (ASX: HCL) has announced that it has received binding commitments from sophisticated and professional investors to raise ~A$7.0 million via a placement (Placement) of approximately 35.0m new fully paid ordinary shares at an issue price of A$0.20 per share. The Placement will be completed in two tranches, with Tranche 1 consisting of 25,670,667 new shares to raise A$5.1 million, and Tranche 2 consisting of 9,329,333 new shares to raise A$1.9 million, subject to shareholder approval. The offer price represents a discount of up to 26.0% to the company's 30-day trading VWAP. In addition, the company will offer eligible shareholders the opportunity to participate in a non-underwritten Share Purchase Plan (SPP) to raise up to a further A$1 million. The proceeds from the Placement and SPP will be used to increase sales through funding production growth, manufacturing upgrades, new tooling and facility investments, and product development to continue and strengthen the company's product-leading position in the market.