Electro Optic Systems, a defence and space technology firm, completed a $35 million institutional placement.

The placement involved issuing approximately 20.6 million new shares at $1.70 each. The funds will support future sales growth and critical supply investments, including RWS cannons.

Electro Optic Systems plans to launch a share purchase plan for eligible Australian and New Zealand shareholders to invest up to $30,000 without additional costs.

Trading of new shares is expected to commence in early April, enabling further global expansion and innovation.