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Highlights
- Linius Technologies secures $3.3M to drive growth
- Strategic board appointments strengthen leadership
- Operational focus shifts toward sales and cash flow goals
Linius Technologies (ASX:LNU), an innovator in personalised video streaming, has unveiled a strategic capital raising initiative worth $3.3 million aimed at accelerating its commercial and operational expansion. This funding round includes a $350,000 share placement and a $3 million convertible note facility, with $2 million already committed by professional and sophisticated investors.
The funding is designed to enhance the company's ability to secure and deliver revenue-generating opportunities. It will also support recruitment efforts for four senior sales roles, as the company looks to expand its go-to-market capabilities.
In a move to reinforce its leadership, Linius Technologies has welcomed two high-profile additions to its Board of Directors: Andrew Demetriou, former CEO of the AFL, and Brent Jones, a seasoned financial services professional. Their extensive experience in sport, entertainment, and financial strategy is expected to contribute significantly to Linius' growth roadmap and broader strategic ambitions.
Chief Executive Ben Taverner highlighted that the new capital will provide essential resources to close key near-term opportunities and help strengthen Linius' positioning in the evolving digital video sector. He also noted that recruitment for additional sales roles is underway, with final appointments of a sales engineer and sales director near completion.
Chairman Gerard Bongiorno expressed enthusiasm over investor support and the new board appointments. He emphasised that the company’s priorities remain focused on achieving financial stability, boosting revenue, and reaching the milestone of cash flow breakeven — a core element of Linius' strategic plan.
To conserve capital and align interests with shareholders, all board directors will receive their remuneration in the form of convertible notes, a move that saves Linius approximately $480,752 in cash outflows. Additionally, the company's $1.5 million standby equity facility remains untouched, allowing financial flexibility for future use.
Operationally, Linius is actively pursuing a leaner cost base while simultaneously advancing several new paid proofs of concept. Among these is a promising collaboration with a major European sports league, aligning with broader objectives to tap into high-value commercial partnerships.
As Linius Technologies moves forward, its strategic activities align with the aspirations of many companies seeking inclusion in indices like the ASX200, underscoring its ambitions for growth, resilience, and industry relevance in the competitive digital media space.
