Offer Price

A$0.0160

per share

Offer Size

A$750,000

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Placement

X2M Connect Limited (ASX:X2M)

X2M

Lead Manager

Offer Price

A$0.0160

per share

Offer Size

A$750,000

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Placement

Offer Details

Issue Price (Per Share)

A$0.0160

Discount

-14.29%

Offer Size

A$750,000

Shares Available

46,875,000

Placement to raise up to A$750,000 (with ability to accept oversubscriptions), via the issue of up to 46,875,000 fully paid ordinary shares at A$0.016 per share (“Placement Shares”).

Subject to shareholder approval, for every one (1) Placement Share subscribed to, investors will receive one (1) free attaching unlisted option (“Placement Options”) exercisable at A$0.016 and expiring one (1) year from the date of issuance (attaching on a 1:1 basis) which upon exercise, converts into one (1) fully paid ordinary share and an additional one (1) unlisted option exercisable at A$0.030 and expiring on 31 July 2027 (“Piggyback Options”).

Further details will be lodged on the ASX at the completion of the Placement in accordance with the indicative timetable below.

The Placement will occur as a single tranche placement of up to A$750,000, via the issue of 46,875,000 fully paid ordinary shares at an issue price of A$0.016.

Documents & Downloads

Term Sheet

Investor Presentation

Company Overview

X2M Connect Limited (ASX:X2M) is an Australian-listed technology company providing a patented software platform for utility, industry automation, and AI-driven applications. Since listing in 2021, X2M has fully commercialised its platform with operations across South Korea, Taiwan, Japan, Australia, and the UAE. The company targets fast-growing utility and renewable energy markets with limited competition and currently services 82 enterprise and government customers. Its strategic partnerships include major players such as Green Rock Energy (Taiwan), Sirius Digitech (Adani and IHC JV), and Dicode Smart Connect (UAE), supported by a seasoned board and executive team.

What X2M Does

One platform, multiple applications
Digitising utilities through ‘Vision by X2M’ – enabling “smart” meters and sensors with communications capability, capturing rich data, automating manual processes and allowing for “human-free” control
Bringing AI to renewables through ‘Hive.AI by X2M’ – enabling data to be captured in a large data lake while delivering a range of AI and machine learning applications providing automation from one platform

How X2M Makes Money

Three-pronged approach:

Hardware – one-off fee per smart device; increasingly being phased out
Software – one-off connection fee per new device; recurring monthly fee
Platforms – one-off installation and customisation fees; recurring annual fees per platform; ad-hoc maintenance and support fees

Data

More efficient collection of data, better data, cheaper and faster.

Communications

Two-way communications from and to machines allowing human-free control.

Flexibility

Unparalleled flexibility, fast speed to market, low capital requirements, point-of-sale differentiation.

AI/ ML

Large amounts of data driving artificial intelligence and machine learning applications.

Unmet Market Needs

Compelling use cases across growing markets.

Use of Funds

Business Expansion

$300,000.00

40.00%

Product Enhancements

$325,000.00

43.33%

Working Capital

$75,000.00

10.00%

Capital Raising Fees

$50,000.00

6.66%

Total

$750,000.00

100.00%

Business Expansion

$300,000.00

40.00%

Product Enhancements

$325,000.00

43.33%

Working Capital

$75,000.00

10.00%

Capital Raising Fees

$50,000.00

6.66%

Total

$750,000.00

100.00%

Indicative Timetable

X2M reserves the right to close the book early and without notice.

Trading Halt

16 June 2025

Receipt of binding commitments for single tranche Placement

17 June 2025 4pm AEST

Announcement of Placement and Appendix 3B lodged with ASX

18 June 2025

Closing date for receipt of funds for single tranche Placement

24 June 2025

Settlement via DVP (single tranche)

25 June 2025

Allotment and trading of single tranche Placement

26 June 2025

Board & Management

Alan Stockdale

Non-Executive Chairman

Mr Stockdale has significant legal, Government, investment banking and other business experience. Alan was Victorian Treasurer (1992-1999) and was the Minister for IT and Multimedia from 1996 to 1999. He was a successful barrister, law firm Partner and Consultant and worked as an investment banker for Macquarie Bank. Mr Stockdale is Chairman of Knosys Limited and was previously Chairman of ASX-listed companies Senetas, Axon Instruments and Symex (now Pental) and Chairman of the Medical Research Commercialisation Fund. He has been Chairman or a Director of several other listed companies, unlisted companies and voluntary organisations.

Damien Johnston

Non-Executive Director

Mr Johnston is an ASX experienced Finance Executive. Mr Johnston was Chief Financial Officer at Tabcorp Holdings Limited and held several senior financial roles at BHP Group Limited. Mr Johnston has solid governance experience through his involvement on the Tabcorp Holdings Limited Board and related committees. Mr Johnston has extensive experience in mergers and acquisitions at Tabcorp Holdings Limited and BHP Group Limited.

John Stewart

Non-Executive Director

Mr Stewart has 25 years experience in merger & acquisition advisory roles and has been CEO of a start-up with 50 employees. Mr Stewart held senior roles at Gresham Partners, Lazard, JPMorgan and Thomas Weisel Partners and has strong networks in business, venture capital, finance, law and politics. Mr Stewart is a director of Stratford Retail Group (UK), Sovereign Investments, Gander Retail Holdings Pty Ltd and Access Investing Limited.

Mohan Jesudason

Chief Executive Officer & Managing Director

Mohan Jesudason has over 30 years’ business and executive experience. Mr Jesudason was previously the Managing Director of Gaming and Group Marketing at Tabcorp Holdings Limited for 10 years. He also worked 9 years at Telecom New Zealand (now Spark New Zealand Limited) which included the position of Managing Director at Telecom Mobile. Mr Jesudason also worked at National Mutual/AXA (now AMP Limited) for 16 years where he served in a variety of roles from Graduate trainee to senior executive. Mr Jesudason is on the Advisory Board of Enterprise Victoria and a past Director of Melbourne Football Club and Racing Victoria Limited where he was also a Member of the Racing Integrity Council.

Disclaimer

This site does not constitute an offer, recommendation, or invitation to any person, nor does it purport to provide all of the information an interested party may require in order to investigate the affairs of X2M Connect Limited. This site is provided for information only and has not been prepared with the intention that the recipient should rely on it. Liquidity Technology Pty Ltd ("Liquidity") does not make any representation in relation to the contents of this site or give any assurances as to the accuracy or the degree of care or diligence used in preparing this document. The information, data, and advice herein is provided to recipients on the clear understanding that Liquidity nor any of its representatives, directors, officers, employees, agents, or advisers makes any representation or warranty about its accuracy, reliability, completeness, or suitability for any particular purpose and does not accept liability (including, but not limited to, for any expenses, losses, damages, and/or costs (including, but not limited to, indirect or consequential damage)) nor take any responsibility of any kind whatsoever (including, but not limited to, whether in contract, tort, financial or otherwise) for the information, data, or advice contained in or for any omission or for any other information, statement, or representation provided to any recipient (including, but not limited to, as a result of information, data, or advice being inaccurate, unreliable, incomplete, or unsuitable in any way and for any reason whatsoever). Users of this site must conduct their own investigation and analysis regarding any information, statement, or representation contained or provided to any recipient or its associates by Liquidity or any of the Liquidity Personnel. Each recipient waives any right of action, which it has now or in the future against Liquidity or any of the Liquidity Personnel in respect of any errors or omissions on or from this site, however caused. All rights are reserved. If the whole or any part of a provision of this "Notice and Disclaimer" is invalid, illegal, or unenforceable, then such provision will be severed and neither that part or provision or its severance will affect the validity or enforceability of the remaining parts or provisions.

Disclosure of Interest: Liquidity receives commission from dealing in securities and its introducers of business may directly share in this commission. Liquidity and its associates may hold shares in X2M Connect Limited.