Highlights

• Excite Technology Services shares rose 14.29% during the morning session on 3 July 2026 following a capital raising announcement.

• The company secured firm commitments to raise AUD 3.26 million before costs through a placement to institutional and professional investors.

• Proceeds will support sales expansion, product development, marketing initiatives and working capital.

• Managing Director Bryan Saba will convert AUD 500,000 of existing debt into equity, subject to shareholder approval.

• Placement Shares will be issued at AUD 0.006 each, with free-attaching unlisted options proposed for eligible investors.

Excite Technology Services Limited (ASX:EXT) shares climbed 14.29% to AUD 0.0080 during the morning session on 3 July 2026 after the company announced a capital raising designed to support its next phase of business expansion. While the stock has declined around 20% over the past year, investors appeared to respond positively to the company's plans to strengthen its balance sheet and fund initiatives aimed at expanding its cybersecurity and technology services business.

Excite Technology Services is an Australian cybersecurity and managed technology services provider offering solutions across threat prevention, managed cloud and IT services, digital forensics, incident response, forensic investigations and accredited cybersecurity training. The company works with organisations seeking to strengthen their cybersecurity capabilities while supporting broader digital infrastructure requirements.

Capital Raising Supports Business Expansion Plans

Excite announced that it has received firm commitments to raise AUD 3.26 million before costs through a placement of fully paid ordinary shares to existing and new institutional and professional investors. The placement will be completed at an issue price of AUD 0.006 per share.

As part of the offer, investors will also receive one free-attaching unlisted option for every two Placement Shares subscribed. Each option will carry an exercise price of AUD 0.01 per share and will expire 36 months after its issue date. If exercised, each option will convert into one fully paid ordinary share.

The issue of these Placement Options remains subject to shareholder approval, with the proposal expected to be presented at the company's upcoming Annual General Meeting (AGM).

The funding initiative represents one of the company's latest steps to secure additional capital while broadening participation among institutional and professional investors.

Funding to Focus on Commercial Growth Initiatives

According to the company, the capital raised through the placement is intended to support several operational priorities across the business.

A portion of the proceeds will be directed towards enhancing sales enablement capabilities and further productisation of the company's existing service offerings. Excite also plans to recruit additional sales personnel to expand customer engagement and strengthen business development activities.

The company intends to allocate funding towards marketing initiatives, including digital campaigns, industry roundtables and exhibitions designed to increase market awareness of its cybersecurity solutions.

The remaining funds are expected to contribute towards working capital requirements, with the objective of strengthening the company's overall balance sheet as it continues executing its operational strategy.

These planned uses of proceeds reflect management's focus on expanding commercial capabilities while maintaining financial flexibility.

Placement Structure and Shareholder Approval Process

The placement comprises a total of 543,244,334 Placement Shares.

Of these, 500,000,000 Placement Shares will be issued under the company's available placement capacity pursuant to ASX Listing Rules 7.1 and 7.1A. This allocation includes 300,000,000 shares issued under Listing Rule 7.1 and 200,000,000 shares under Listing Rule 7.1A.

The remaining 43,244,334 Placement Shares, representing approximately AUD 260,000 of the raising, will require shareholder approval before being issued. This approval is expected to be sought at the company's forthcoming AGM.

The company also confirmed that shareholder approval will be required before the free-attaching Placement Options can be issued.

Based on the indicative timetable released with the announcement, settlement and allotment of Placement Shares are expected to occur on 9 July 2026. Shareholders are expected to vote on the Placement Options during the AGM scheduled for 31 August 2026, although the company noted these dates remain indicative and may change.

Managing Director to Convert Debt into Equity

Alongside the placement, Excite announced that Managing Director and Chief Executive Officer Bryan Saba has agreed to convert AUD 500,000 of debt currently owed to him by the company into equity.

The debt conversion will occur on the same terms as the placement, meaning the securities issued will also include the same free-attaching options offered to placement participants.

Because Mr Saba is considered a related party under the ASX Listing Rules, completion of the transaction will require shareholder approval under Listing Rule 10.11. This approval will also be sought at the company's Annual General Meeting.

The proposed conversion would reduce the company's existing debt obligations while increasing equity, subject to shareholder approval.

Management Highlights Investor Participation

Commenting on the capital raising, Chief Executive Officer Bryan Saba said the placement received participation from both new and existing investors across Australia, Asia, the United Kingdom and Germany.

Management indicated that the funding reflects investor support for the company's strategy as it progresses into its next stage of development. The company also acknowledged continued shareholder support while outlining plans to deploy the proceeds across growth initiatives and balance sheet strengthening activities.

The placement process was led by SP Corporate Advisory Pty Ltd (Spark Plus), which acted as Lead Manager, while Whairo Capital Pty Ltd served as Co-Manager.

The company also noted that strategic adviser Alterra Consulting supported management during a recent investor roadshow across South-East Asia.

Balance Sheet Strengthening Remains Part of the Strategy

Beyond funding commercial initiatives, the placement is expected to provide additional working capital to support the company's financial position.

Management stated that strengthening the balance sheet forms one of the intended uses of the proceeds alongside investment in sales resources, product development and marketing.

The proposed debt-to-equity conversion involving the Managing Director also aligns with this objective by reducing outstanding debt while increasing equity, subject to shareholder approval.

Together, these initiatives are designed to provide additional financial flexibility as the company continues delivering cybersecurity and managed technology services across its target markets.

About Excite Technology Services

Excite Technology Services operates in Australia's cybersecurity sector, providing organisations with services designed to manage digital security risks and technology infrastructure.

Its service offering spans cybersecurity protection, managed cloud solutions, managed IT services, incident response, digital forensic investigations, forensic consulting and accredited training programs.

The company positions these services to assist organisations in strengthening cybersecurity preparedness while supporting ongoing technology operations across multiple industries.

What Could Investors Watch Next?

Following the announcement, investors are likely to monitor completion of the placement, including settlement of the Placement Shares scheduled for 9 July 2026.

Attention may also remain on the company's Annual General Meeting, where shareholders are expected to vote on the issue of the Placement Options, the remaining Placement Shares requiring approval and the proposed related-party debt conversion involving Managing Director Bryan Saba.

Investors may also watch how the company deploys the proceeds across sales expansion, product development, marketing activities and working capital as outlined in the announcement.