Shaw and Partners was pleased to be appointed Joint Lead Manager to the equity raising by Magnetic Resources NL (ASX:MAU). The Company raised A$35 million by way of a single tranc... Read More
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IKE is the leading North American provider of software for overhead asset network digitization, design and management, used by electric utilities, communications companies and their engineering partners. IKE’s software products deliver high productivity outcomes for customers to plan, design and maintain electrical grid infrastructure.
The company raised $18 million by way of a fully underwritten institutional placement of new shares issued at A$0.81 (NZ$0.88). The offer price reflects a 4.7% discount to last traded price of A$0.85 on 9 July 2025 and 6.1% to the 5-day VWAP of A$0.862.
IKE will offer eligible existing shareholders the opportunity to participate in a non-underwritten share purchase plan (SPP) to raise up to A$2.0 million (approximately NZ$2.2 million). The SPP is expected to open on 16 July 2025.
Proceeds from the equity raising will be used to fund new product development to maintain and extend IKE’s market leadership, accelerate sales and marketing efforts, and provide balance sheet flexibility to execute on potential strategic bolt-on acquisition opportunities and general working capital.
Congratulations to Glenn Milnes and the entire ikeGPS team on the successful capital raising, we look forward to your continued growth and capitalising on long term structural tailwinds in the US electricity and distribution market. Shaw and Partners was pleased to work with IKE in building market awareness since initiating research in April 2025, which resulted in the Placement being well supported with strong over-demand from both existing investors as well as multiple new long only ASX institutional investors.
The offer was available to Wholesale investors only (as defined in the Corporations Act). Shaw and Partners Limited acted as Joint Lead Manager for ikeGPS Group Limited in relation to the offer and received fees for that service.