Sprintex Ltd (ASX:SIX) has locked in $1.5 million in firm commitments from four strategic investors — including international institutions — to strengthen its balance sheet and accelerate progress on major projects in Europe.
The funds will be raised via the issue of 30 million new shares at $0.05 each, alongside one free attaching option for every four shares issued. Options are exercisable at $0.10 on or before June 30, 2026.
MWP Partners Ltd cornerstoned the placement, which also drew strong support from existing major shareholders China Automotive Holdings (CAHL) and Euro Mark Ltd.
Executive chairman Steven Apedaile said the raise underscored confidence in Sprintex’s growth strategy.
“This placement is a strong endorsement of the company’s near-term growth trajectory, and I would like to take this opportunity to welcome new investors to the register and thank our existing shareholders for their ongoing support,” he said.
“This funding will serve to strengthen Sprintex’s position as it continues to scale and execute on a number of pending milestones across global markets, particularly as regulatory demand continues to drive demand for our high-efficiency technology.”
Backing ammonia-reduction rollout
Proceeds will be channelled into working capital and advancing Sprintex’s collaboration with exclusive partner Mest Water, focused on deploying zero liquid discharge (ZLD-UP) ammonia-reduction systems across the Netherlands and the wider EU.
The technology has already attracted the attention of West Water customer Van Drie Group — the Netherlands’ largest veal producer — with field trials to commence following first system installations in the coming week. An initial 200-system program is planned.
Pending orders from Mest Water, valued at €9.3 million (A$16.6 million), are anticipated to crystallise in the near term, reinforcing the company’s growing European sales pipeline.
Read more: Sprintex boosts maiden Mest Water order to A$16.6 million with integrated control cabinet contract
The raise builds on a string of commercial wins for the company, including a A$9.3 million private-label deal providing access to China’s aquaculture market that the company announced in late July.
Read more: Sprintex signs A$9.3M private-label deal for entry into China’s aquaculture market
Placement terms
The issue price of $0.05 per share represents no discount to Sprintex’s last traded price on September 26. Securities will be issued under the company’s available placement capacity pursuant to ASX Listing Rules 7.1 and 7.1A.
Alpine Capital acted as sole lead manager to the raise and will receive a 2% management fee and 4% selling fee on the amount raised, excluding funds introduced directly by the company. Alpine will also be issued 5 million broker options on the same terms as placement participants.
Settlement is scheduled for on or about October 13, 2025, with a cleansing statement to be lodged with the ASX on the same date.
Sprintex, founded in 2003, develops high-speed electric motors and clean air compressors for industrial, automotive and energy applications. Its G Series blowers serve sectors including wastewater treatment, aquaculture and pharmaceuticals, while its clean energy division develops compressors for hydrogen and natural gas fuel cells.