ikeGPS has announced the opening of a A$2 million (approximately NZ$2.2m) share purchase plan (SPP), with the option to accept oversubscriptions at its discretion.
The SPP, which is expected to close on August 7, 2025, follows a fully underwritten share placement that raised approximately A$18m (NZ$19.6m).
The company said the proceeds from the placement and SPP will be used for new product development, sales and marketing efforts, balance sheet flexibility, and general working capital.
Eligible shareholders in New Zealand and Australia will have the opportunity to apply for up to A$30,000 (NZ$32,500) of new shares at A$0.81 (NZ$0.88) per share.
Each new share issued under the SPP will rank equally with existing shares.
Shareholder approval is not required for the issuance of shares under the SPP.
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