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- Future First Technologies (FFT) has completed a $2.35 million placement offer of new, fully paid ordinary shares to accelerate growth
- The placement will comprise 78.4 million shares at an issue price of 3 cents per share to sophisticated and institutional investors
- Funds raised will be directed to FFT’s asset vision business to accelerate the integration of EagleSoft into its platform, with trials already being conducted in Victoria’s northeast
- In a release from the Premiers office, Minister for Roads and Road Safety, Ben Carroll says the technology allows them to work more efficiently and effectively
- Future First Technologies shares have ended the day down 7.89 per cent to trade at 3.5 cents
Future First Technologies (FFT) has completed a $2.35 million placement offer of new, fully paid ordinary shares to accelerate growth.
The placement will comprise 78.4 million shares at an issue price of 3 cents per share to sophisticated and institutional investors.
Funds raised will be directed to FFT’s asset vision business to expand the sales capability and accelerate the integration of EagleSoft into asset vision’s intelligent asset management platform.
Asset vision is currently developing an IAM platform aimed at revolutionising the way roads and assets are inspected and maintained.
The technology is currently being trialled in Victoria’s northeast, helping to map and assess the condition of more than 4000 kilometres of arterial roads and roadside assets.
In a release from the Premiers office, Minister for Roads and Road Safety, Ben Carroll, commented.
“We’re embracing the latest technology to ensure we deliver road maintenance and repairs where they’re needed most,” Minister Carroll said.
“This technology is allowing us to work more efficiently and safely – it removes the need for workers to be out on the roads putting themselves in potentially risky situations.”
Future First Technologies CEO Keith Falconer said the company has significant opportunities for the future.
“The strong support the company has received from new institutional investors comes at a time where the focus on road safety is gaining attention and momentum around the world,” he said.
CCZ Equities acted as sole lead manager on the placement.
Future First Technologies shares ended the day down 7.89 per cent to trade at 3.5 cents at market close.
