Schoolblazer raises $5.3M in placement
Key points
- Schoolblazer has secured binding commitments to raise $5.3 million through a two-tranche share placement.
- The new shares were priced at $0.10 each.
- Capital raised will be used to partially repay debt, fund working capital, and strengthen the balance sheet.
Schoolblazer (ASX:SBZ) has secured binding commitments to raise $5.3 million before costs through an institutional and director-backed share placement.
The new shares are priced at $0.10 each, representing a 13% discount to the last closing price of $0.115 on Oct. 29.
The transaction includes $1.8 million in commitments from directors, which remains subject to shareholder approval at a general meeting scheduled for mid-December.
Tranche 1 will issue 14.4 million shares to raise $1.4 million by Nov. 9, while Tranche 2 will issue 38.8 million shares to raise $3.9 million following shareholder approval.
Schoolblazer stated that the placement proceeds will fund partial repayment of its IFM debt facility, supply working capital, and strengthen its balance sheet alongside a $15 million debt reduction completed in September 2026.
Following the announcement, the Schoolblazer share price was unchanged at $0.10.
Blue Ocean Equities and E&P Capital acted as joint lead managers for the equity placement.
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