Aquabotix Goes Public on ASX

UUV Aquabotix Ltd, an Australian company, is conducting an IPO of the Aquabotix business on the Australian Securities Exchange (the ASX) and will operate the underwater robotics company going forward.

The company is headed by CEO and Aquabotix’s founder Durval Tavares, formerly with the United States Naval Undersea Warfare Center and then Fidelity Investments.

Aquabotix is backed by a U.S. institutional investor that also supported the recent Australian IPO of DroneShield Ltd.

The company is aiming to raise A$5.1 million to A$7 million in connection with an IPO to facilitate a listing on the ASX through the issue of up to 35 million shares at an issue price of A$0.20 per share, with offers due to close on April 19, 2017.

Funds raised from the IPO will be used for to establish an in-house sales force, expand the company’s distributor network (and establish a global distributor network), develop distribution in the company’s target geographic and industry markets, develop its pre-sale and post-sale support capabilities, and expand its executive team, with a particular focus on business development.

In addition, the funds will enable the company to further scale Aquabotix’s existing technology, adapt its products to meet customer demands as they arise, develop its product range and expand its manufacturing capability.

Share this article

Follow Subsea World News

Events>

<< Jun 2017 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 1 2

Oil & Gas Indonesia 2017

Oil & Gas Indonesia (OGI) is an exhibition focused on Oil and Gas Exploration, Production and Refining and showcases the largest exhibition…

read more >

IADC World Drilling 2017 Conference & Exhibition

This event showcases products like Cutting edge, drilling technology, well control, health, safety, environment, training and environment industry…

read more >

OGA 2017

OGA 2017 is the most beneficial way to meet, discuss and acquire the latest in the Oil & Gas industry! It is also;…

read more >

SPE Offshore Europe 2017

Attending SPE Offshore Europe, recognised by offshore E&P professionals as Europe’s leading E&P exhibition and conference, will ensure…

read more >