Overwatch Technologies files prospectus for $8M IPO

• Overwatch Technologies lodged a prospectus to raise $8 million ahead of an ASX listing.
• The initial public offering values the defence intelligence business at an indicative market capitalisation of $26.7 million.
• Proceeds from the capital raise will support the growth of the company's defence and security intelligence operations.

Australian defence firm Overwatch Technologies has lodged a prospectus to raise $8 million.

The proposed initial public offering places an indicative market valuation of $26.7 million on the company.

Joint lead managers Euroz Hartleys and CPS Capital Group are coordinating the capital raise.

The share offer consists of 40 million new shares priced at $0.20 each.

The company provides specialised intelligence and surveillance platforms for national defence sector clients.

Capital raised from the float will fund technology development ahead of the planned stock market listing.