Key Highlights

  • The Placement raises $700,000 before costs at $0.011 per share, for 63,636,364 fully paid ordinary shares.
  • Each placement share carries one free attaching option exercisable at $0.03 and expiring three years from issue.
  • Directors and related parties subscribed for $148,000 of the placement, subject to Shareholder approval.
  • Proceeds will support Indonesian seaweed operations, a new innovation centre, research and working capital.

Ocean Sciences Ltd (ASX:OSS) has secured firm commitments for a $700,000 private placement, in an announcement dated 4 November 2026. The company describes itself as a commercial seaweed supply, Research and Development business, and the placement is being made to company directors as well as sophisticated and professional investors.

Placement Terms and Options

The company will issue 63,636,364 fully paid ordinary shares at an issue price of $0.011 each. Each placement share is paired with one attaching option, exercisable at $0.03 and expiring three years after the date of issue.

Directors of the company and their related parties have subscribed for 13,454,546 placement shares and an equal number of attaching options, raising $148,000. That component is subject to shareholder approval.

The attaching Options are exercisable at $0.03, a price above the $0.011 issue price, and expire three years after issue. If exercised, options would increase the number of shares on issue, and the release sets out that timeframe for any future conversion.

Planned Use of Funds

The company says the proceeds will support the expansion of its Indonesian seaweed operations, the development of a Seaweed Innovation and Application Centre, research and development initiatives and Working Capital needs.

The announcement does not allocate specific amounts to each use, so the split across the four areas is not disclosed in the release.

The proceeds are divided across four areas, reflecting the company's focus on commercial seaweed Supply and research. The release does not describe how the Indonesian expansion will be scheduled, or whether the innovation centre has a construction budget separate from the placement.

Planned Loyalty Offer

Ocean Sciences intends to undertake a loyalty options offer to eligible existing shareholders within approximately three months. The release does not set out the terms, pricing or number of options for that offer.

The company has also not provided revenue, profit or Cash Flow figures in this announcement, which focuses on the terms of the placement and its planned use.

The planned loyalty options offer is directed at eligible existing shareholders and is intended for approximately three months after the placement. Its size and pricing will set the extent of dilution for existing holders, but the release does not provide those details yet.

Share Count and Capital Structure

The placement adds 63,636,364 shares to the company's capital base, and the attaching options add a further 63,636,364 potential shares if exercised. The release does not state the total number of shares currently on issue or the total options outstanding, so the overall dilution cannot be calculated from the announcement alone. The directors' component is subject to shareholder approval, which will set the final participation of insiders in the placement.

Final Word

The placement provides capital in a single share issue, with attaching options that would only be exercised at a price above the placement price. The release is limited to the placement terms and intended uses, and it does not include Revenue or Earnings data. Several elements remain subject to shareholder approval and to the terms of the planned loyalty offer.