NoviqTech secures $1.8 million placement to fund operations

NoviqTech Limited (ASX: NVQ) has secured firm commitments to raise approximately $1.805 million through a placement to sophisticated and professional investors. The placement involves issuing up to 51.5 million fully paid ordinary shares at $0.035 per share, a 10.3% discount to the company’s last traded price on June 10, 2026.

Completion of the placement is subject to shareholder approval at the company’s upcoming annual general meeting. Directors Timothy Brooks, Niv Dagan, and Darren Scott have committed to subscribing for approximately 6.7 million shares, totaling roughly $235,000.

The net proceeds are intended to fund operations for subsidiary NoviqTech Services Pty Ltd, support Coralia’s Great Barrier Reef Project, and cover placement costs. NoviqTech’s securities currently remain suspended from official quotation. While the company is working with the ASX regarding reinstatement requirements, it noted that the placement does not guarantee reinstatement, which remains at the discretion of the ASX.