EOS announces successful completion of its A$35m institutional placement

Electro Optic Systems Holdings Limited (ASX: EOS) (EOS or Company) is pleased to announce that it has successfully completed its A$35 million fully underwritten placement (Placement) of approximately 20,588,235 new fully paid ordinary shares (New Shares) to eligible institutional investors at a price of A$1.70 per New Share (Placement Price).

Net proceeds from the Placement and SPP will be applied to support future sales growth in key global markets, through investment in long lead time critical supplies, specifically RWS cannons, investment in other long lead time equipment components and security deposits for bank guarantees.

Dr Andreas Schwer, Managing Director & Chief Executive Officer of EOS said: “The Placement attracted healthy demand. We are grateful for the ongoing support from our existing institutional shareholders and pleased to welcome a number of new international and local institutional investors to the register. We are delighted to have secured the funding required to support our ongoing growth.”

Settlement of New Shares issued under the Placement is expected to occur on Thursday, 28 March 2024. New Shares are expected to be issued on Tuesday, 2 April 2024 and commence trading on ASX on a normal settlement basis on the same day. EOS's ordinary shares are expected to resume normal trading on the ASX from market open today (Monday, 25 March 2024).

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