Excite raises A$3.26M placement to fund cyber sales push
What's the deal? Excite Technology ServicesDealroom has a profile for this one. Try Dealroom → (ASX: EXT) has secured firm commitments to raise A$3.26 million through a share placement. Shares are priced at A$0.006 each, offered to existing and new institutional and professional investors, with SP Corporate Advisory acting as lead manager.
The details: The placement includes one free-attaching unlisted option for every two shares subscribed, exercisable at A$0.01 and expiring 36 months from issue, subject to shareholder approval at the company's annual general meeting. Settlement is set for July 9, 2026.
What's the endgame? Excite offers cybersecurity services spanning threat prevention, managed cloud, digital forensics, incident response, and accredited training. It will direct funds to sales enablement, productisation, hiring sales staff, and marketing activities including roundtables, digital campaigns, and exhibitions.
Why now? The raise follows Excite's acquisition of CBIT Digital Forensic ServicesDealroom has a profile for this one. Try Dealroom → and what it describes as its strongest month, with more than A$3 million in new deals closed in June 2026. Chief executive officer Bryan SabaDealroom has a profile for this one. Try Dealroom → called the funding "a significant vote of confidence in the company and its strategic direction."
One more thing: Managing director Saba has agreed to convert A$500,000 of debt owed to him into equity, mirroring the placement terms. As a related-party transaction, it also requires shareholder approval under Listing Rule 10.11.
The signal: The raise is modest but strategically focused, reinforcing Excite's bid to become a national player in Australia's growing cyber and digital forensics market — where demand from defence, government, and critical infrastructure clients is rising.
Read more: Finance News Network
Image credit: Idaho National Laboratory
