Land Forces 24 728x90 WEB 240202 01AML3D announced strong support for the company’s non-renounceable, pro-rata, 1 for 3 rights issue to raise A$3.9 million via the issue of 78.5 new shares issue price of $0.05 announced to the ASX on 3 April 2024.

The rights issue, which closed on 9 May 2024, was supported by AML3D’s existing shareholders. Under the rights issue existing eligible shareholders could apply for additional new shares in excess of their rights under a shortfall offer. The shortfall shares arising from the rights issue and shortfall offer made up the new shares offered to new and existing sophisticated and professional investors in the shortfall placement.

As of result of significant additional demand in the shortfall placement, the company said it has received firm commitments to undertake a placement to raise an additional $3 million-plus on the same terms as the rights issue, being at an offer price of A$0.05 per share with existing and new institutional and sophisticated shareholders that strengthen AML3D’s register.

This additional funding will allow AML3D to be fully funded in its efforts to establish a US manufacturing base while retaining sufficient working capital to take advantage of potential growth opportunities. Subject to shareholder approval, Non-Executive Director,  Peter Siebels has agreed to subscribe for $100,000 in the Additional Placement.

The company will issue 60,250,916 new shares under the Additional Placement, of which:

  • 58,250,916 New Shares will be issued using the Company’s existing capacity under Listing Rules 7.1 and 7.1A (Tranche 1); and
  • 2,000,000 New Shares will be issued to Non-Executive Director, Mr Peter Siebels, upon receipt of all necessary regulatory and shareholder approvals (Tranche 2)

Following completion of the Additional Placement, the total amount raised from the Rights Issue, Shortfall Offer and Additional Placement will be $6,938,389.45, before costs.

AML3D Managing Director, Sean Ebert, commented “We are delighted by the overwhelming support we have received from our existing and new shareholders. We are now fully funded in our strategy to not only establish a US HQ and Manufacturing hub with a dedicated US national sales team in Ohio but also in having a sound working capital base to fund what we hope will be stronger than expected order flow in the future. Having US based operations will accelerate our penetration of the US Defence sector, in particular the US navy’s submarine industrial base. (The year) 2023 was the first year of our US ‘Scale Up’ strategy and we secured ~$10.7 million of US Defence contracts when supporting our US operations from our Adelaide facility. We look forward to building on our Defence success from our Ohio base and also leveraging our existing relationships to expand into the US Marine, Oil & Gas and Aerospace sectors. A key part of building out our success will be maintaining our technology advantage and here again the strong support for this rights issue and placement means we are well funded to continue to invest in this key competitive advantage and deliver long term value for our existing and new shareholders.”


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