Excite Technology Services has successfully raised AUD $2.8 million through a placement of new shares. The company plans to utilize these funds for expanding its cyber security training programs and organic growth initiatives. This significant financial boost comes on the heels of a robust performance in the previous quarter, setting the stage for accelerated revenue opportunities.
The strategic allocation of the raised capital includes investments in the CBIT’s Nangu Tactical Centre, which will be equipped with cutting-edge digital forensics training equipment. These resources will play a pivotal role in supporting the delivery of advanced training courses for Defense and State Law Enforcement agencies. Excite anticipates these efforts to yield substantial benefits within the next year.
Excite’s offensive security services arm is poised to receive a boost from this funding, with expectations of securing new sales initiatives in the upcoming quarter. Moreover, the company is actively exploring various acquisition prospects aimed at enhancing cross-selling capabilities, boosting customer engagement, and driving EBITDA growth.
Excite’s Managing Director and CEO, Bryan Saba, expressed confidence in the impact of this capital infusion on the company’s core capabilities in digital forensics, cyber training, and offensive security. The focus remains on scaling operations and delivering significant outcomes across defense, government, and critical infrastructure sectors.
The company’s overarching mission to establish itself as a prominent national player in cyber security and digital forensics underscores its commitment to generating high-margin recurring revenues through government contracts. Simultaneously, Excite is keen on expanding its commercial cyber security offerings to meet evolving market demands.
To facilitate this placement, Excite will be issuing approximately 233 million new fully paid ordinary shares to eligible investors at a premium price. This move represents a strategic step in leveraging the available placement capacity to drive growth and innovation in the cyber security domain.
A substantial portion of the raised capital will be channeled towards enhancing Excite’s tactical training facility and developing its Offensive Security Services capability. The company is also earmarking funds for general working capital to support key tender activities and cover the associated costs of the capital raising process.
The Nangu Tactical Centre, heralded as a pioneering cyber and digital forensics training hub in the Asia-Pacific region, holds the promise of bolstering Australia’s sovereign capability in the realm of cyber security and incident response. Equipped with state-of-the-art facilities, the centre aims to address the existing cyber skills gap and emerge as a premier educational platform for advanced practitioner training.
Excite’s strategic collaboration with various stakeholders, including government agencies, industry partners, and academic institutions, positions it as a key player in the national digital security landscape. The centre’s proximity to Canberra, combined with its sophisticated training infrastructure, underscores Excite’s commitment to driving excellence in cyber security education.
Shaw and Partners played a pivotal role as lead managers and bookrunners for this placement, further underscoring the industry’s recognition of the significance of Excite’s initiatives in advancing cyber security training and capabilities.
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