Black Cat Syndicate Limited announced a private placement to issue 133,333,333 shares at issue price AUD 0.225 per share for gross proceeds of AUD 29,999,999.925 on March 15, 2024. This transaction is subject to ODI approval, FIRB approval, stock exchange and Black Cat shareholder approval. The transaction includes participation from returning investor, Sundy Service Group Co Ltd. The Shares will be subject to a voluntary escrow until 30 September 2027.

The transaction is expected to close on August 29, 2024.