Capability X closes offer period for IPO, raises A$12 million

Capability X announced the company has closed its offer period for its initial public offering (IPO) with lead manager Westar Capital raising A$12 million at $0.20 per share. Capability X will now work towards the commencement of trading on the ASX under the code “CX8” scheduled for 12 November 2026. Capability X will list with an indicative market capitalisation of approximately A$34.5 million. The proceeds of the IPO will support the global deployment of CX Edge, the Company’s artificial intelligence (AI) control system, utilised across remote and hazardous industrial environments. Capability X was incorporated in Western Australia in November 2022 to deliver real-time intelligence and control solutions that enables safer and more efficient operations across a range of industries. The Company’s priority markets are oil and gas, mining, ports and defence. The proprietary CX Edge technology combines rugged hardware, proprietary software, and Edge AI, and is designed to transform how industry understands, controls and manages operations. It sees what humans cannot, understands how people and machines interact, identifies emerging risk and enables businesses to act before an incident occurs. Founder and Managing Director Chris Eastwell said the successful close of the Company’s A$12 million IPO reflects strong investor confidence in its technology and growth strategy. “We are delighted with the strong response to the Offer and thank Westar for its guidance and hard work throughout the process. We warmly welcome our new shareholders who have joined our register and appreciate their alignment and support of what the Company is pursuing. We look forward to using the funds raised to build Capability X in size, profile and value and execute on a busy 12-month program. This is an exciting time for the business. Since founding Capability X in 2022, we have achieved rapid growth and rising demand from an excellent customer base across target sectors. Importantly, we developed our bespoke software and hardware alongside industry experts, to solve challenges that were already real and persistent. Industrial sites carry a high risk of injury to personnel and damage to equipment, which can, in turn, weigh on operating costs and productivity.” The company’s CX Edge product is quick to deploy industrial smart devices running Capability X’s Edge AI control systems (comprising rugged hardware, proprietary software and communications) that provides an intelligent, live view of people, machinery and risk. For Editorial Inquiries Contact: Editor Kym Bergmann at [email protected] For Advertising Inquiries Contact: Group Sales Director Simon Hadfield at [email protected]