Excite Technology Services Secures $3.26 Million Placement to Accelerate Cybersecurity Sales and Strengthen Balance Sheet

Excite Technology Services Raises $3.26 Million from Global Institutional and Professional Investors

On 3 July 2026, Excite Technology Services Limited announced it secured firm commitments to raise $3.26 million before costs through a placement of fully paid ordinary shares priced at $0.006 (0.6 cents) each. The capital was sourced from a mix of existing and new institutional and professional investors across Australia, Asia, the United Kingdom, and Germany, reflecting the company’s international investor relations efforts, including a recent roadshow in South-East Asia.

The placement is divided into two tranches based on the company’s ASX Listing Rule capacities. A total of 500,000,000 shares will be issued under Listing Rules 7.1 and 7.1A—300,000,000 under Rule 7.1 and 200,000,000 under Rule 7.1A—without shareholder approval. An additional 43,244,334 shares, representing approximately $260,000 of the raise, require shareholder approval at the company’s Annual General Meeting (AGM) scheduled for 31 August 2026. Settlement and allotment of shares issued under existing capacity are expected on 9 July 2026.

Placement Includes Free-Attaching Unlisted Options with 36-Month Term

The placement features free-attaching unlisted options issued on a one-for-two basis, granting one option for every two placement shares subscribed. Each option has an exercise price of $0.01 (1 cent) and expires 36 months from issuance. Exercising an option entitles the holder to one fully paid ordinary share in Excite Technology Services.

Issuance of these options is conditional upon shareholder approval at the 31 August 2026 AGM. Until approval is granted, options cannot be issued. The $0.01 exercise price represents a premium over the $0.006 placement price, providing investors with potential upside leverage while also being a key consideration for dilution modeling.

Allocation of $3.26 Million Focused on Sales Growth and Product Development

Excite Technology Services plans to deploy the funds raised to enhance sales enablement and further productise its cybersecurity service offerings; recruit additional sales personnel to expand its commercial team; increase marketing efforts through roundtables, digital campaigns, and exhibitions; and bolster working capital to strengthen the balance sheet. This capital allocation underscores a focus on commercial growth rather than infrastructure or R&D.

The company aims to transform its cybersecurity capabilities—including threat prevention, managed cloud and IT services, digital forensics, incident response, and accredited training—into scalable, repeatable commercial products. The recruitment of sales staff highlights an investment in human capital to support market expansion. Investors will be keen to observe how these initiatives translate into measurable revenue or contract wins, which were not disclosed in this update.

Managing Director Bryan Saba to Convert $500,000 Debt to Equity

In addition to the external placement, Managing Director Bryan Saba has agreed to convert $500,000 of outstanding company debt owed to him into equity on the same terms as the placement—$0.006 per share with free-attaching options on a one-for-two basis. This transaction will reduce the company’s debt without cash outflow, potentially improving its net financial position.

As a related-party transaction, this conversion requires shareholder approval under ASX Listing Rule 10.11, which will be sought at the 31 August 2026 AGM. This conversion signals Mr. Saba’s alignment with the company’s future prospects by exchanging debt for equity at the placement price. Shareholders will evaluate this related-party transaction carefully during the AGM vote.

Lead Manager Spark Plus and Co-Manager Whairo Capital Facilitate Placement Supported by South-East Asia Roadshow

The placement was led by SP Corporate Advisory Pty Ltd (Spark Plus) as lead manager, with Whairo Capital Pty Ltd as co-manager. These engagements are typical for small-cap ASX placements and indicate the company’s use of specialist capital markets advisors. Fees related to these appointments were not disclosed, though the raise amount is stated before costs.

Alterra Consulting acted as a strategic advisor, assisting Bryan Saba with a recent South-East Asia roadshow that contributed to securing international investor participation, particularly from Asia. This international investor involvement may reflect broader ambitions in the Asia-Pacific cybersecurity market, though no specific geographic revenue targets or expansion plans were disclosed.

Placement Timeline: Settlement on 9 July 2026; AGM Scheduled for 31 August 2026

The company announced the placement on 3 July 2026, with settlement and allotment of shares under existing capacity expected on 9 July 2026. These dates are indicative and subject to change. The AGM on 31 August 2026 will address shareholder approval of the placement options, the additional 43,244,334 shares beyond existing capacity, and the related-party securities issued to Bryan Saba. The outcomes will impact the company’s capital structure and are of significant interest to shareholders and the market.

Excite’s Cybersecurity Services and Strategic Rationale for Capital Raise

Excite Technology Services offers a broad range of cybersecurity and managed technology services, including threat prevention, managed cloud and IT services, digital forensics, incident response, forensic investigations, and accredited training. The company targets Australian enterprise and government clients amid increasing cyber threats globally.

This capital raise and focus on sales and marketing activities suggest the company considers its service portfolio mature enough to enter a more aggressive commercialisation phase. Initiatives such as digital marketing, exhibitions, and client roundtables aim to enhance brand visibility and pipeline development in a trust-driven services market. No current revenue, customer, or financial performance data were disclosed, so investors are assessing strategic intent rather than concrete commercial results.

International Investor Participation Highlights Excite’s Market Positioning

Investor participation from Australia, Asia, the UK, and Germany is notable for a company of Excite’s size. Securing cross-border institutional and professional investors typically requires dedicated roadshows and investor relations efforts, as demonstrated by Alterra Consulting’s support of the South-East Asia roadshow. Whether this international investor base will translate into commercial partnerships or business opportunities remains unclear, as the company has not disclosed related arrangements. Analysts and investors may seek further clarity at future briefings or the AGM. The immediate impact on the share price was not evident from public information.

Shareholder Dilution Implications from Placement and Options

The placement will issue a total of 543,244,334 new fully paid ordinary shares—500,000,000 under existing listing rule capacity and 43,244,334 subject to shareholder approval. Bryan Saba’s $500,000 debt conversion will result in additional shares at $0.006 each. The aggregate new shares and free-attaching options represent a significant increase to the company’s share capital, though the exact dilution depends on the current share count, which was not disclosed.

The one-for-two option structure introduces potential future dilution if exercised at $0.01 per share within 36 months. Exercising options would bring further cash inflows to support working capital and operations but dilute existing shareholders who do not participate. Shareholders are encouraged to review the Appendix 3B released with this update for detailed placement information.

Next Steps Post-Placement: Execution and Shareholder Approval

Following settlement on 9 July 2026, Excite Technology Services will prioritize deploying proceeds into sales recruitment and marketing acceleration. Early indicators of progress will include hiring activity and marketing initiatives. Investors will watch for announcements of new contracts, partnerships, or revenue growth in the months after the raise.

The 31 August 2026 AGM is the next key event, where shareholders will vote on remaining placement-related resolutions, including related-party securities and option issuance. The results will finalize the capital structure. Beyond the AGM, investor focus will be on the company’s ability to convert the capital injection into tangible commercial success. No specific revenue guidance or financial targets were provided in this update.