HighCom (ASX:HCL) announced a significant capital raising initiative totaling $8 million to accelerate its expansion into the global ballistics and protective wear markets.
The funding strategy is headlined by a $7 million institutional placement, backed by firm commitments for approximately 35 million new shares at a fixed price of $0.20 per unit.
This offer price reflects an 11.1% discount to the company's last closing price on Feb. 6, and a steeper 19.5% discount to the five-day volume weighted average price.
The placement will be executed in two distinct tranches: the first will utilise the company's existing placement capacity to raise $5.1 million, while the second tranche of $1.9 million remains subject to shareholder approval.
HighCom’s board of directors has demonstrated internal confidence by subscribing to participate in the placement.
To ensure equitable opportunity, the company is also launching a share purchase plan, allowing existing eligible shareholders to contribute up to an additional $1 million under similar terms.
According to Executive Chairman and CEO Geoff Knox, the proceeds are earmarked to support robust sales growth and manufacturing scaling through the second half of FY26.
HighCom aims to capitalise on the surging international demand for its high-performance military and policing protective gear.
At the time of reporting, HighCom's share price was $0.21.