5G Networks is raising $22.3m at $1.23 per share to fund growth.
The company will secure $18.3m through a placement and the rest through a share purchase plan.
The raise represents an 8.9 per cent discount to the last closing price of $1.35.
Wilsons is sole lead manager on the placement.
Proceeds are being used to provide balance sheet flexibility to invest in the expansion of fibre network in Sydney and Melbourne and new builds in Brisbane and Adelaide, focused on central city demand and key data centre locations.
The funds will also be used to pursue mergers and acquisition opportunities and other growth initiatives.
The company is a licenced telecommunications carrier operating across Australia.
5G Networks currently owns and operates its own nationwide high-speed data network with points of presence in all major Australian capital cities.
It also offers managed cloud solutions through its cloud and data centre capabilities as well as managed services to optimise customers’ IT and network environments.
More Coverage
Debt capital markets proceeds up
Debt capital markets proceeds for Australia increased more than 16 per cent in 2024 compared to the previous year as corporates became more confident that inflation was being reined in.
Jarden to lobby for joint Australia-NZ share trading index
Growing concerns about liquidity on the Australia and New Zealand stock exchanges have prompted plans to lobby governments for a combined trans-Tasman share trading index.