Department 13 Completes $7m Tranche 1 Capital Raise

Department 13 Completes $7m Tranche 1 Capital Raise

Henslow is pleased to have acted as corporate advisor and lead manager to the recent placement for D13 (ASX:D13). Founded by a team of former military operators, scientists and engineers, D13 is a transformative network and communications Company, with an unrivalled counter drone technology. MESMER™ is the only counter drone technology that has the capability to detect, identify and land a threatening drone.

Henslow assisted D13 in the successful raise of $7m through the first tranche of 70m convertible notes. The funds raised through the placement will be used to invest in demonstration units, scale up marketing and sales efforts and contribute working capital to support a growing pipeline of sales opportunities and support the Company’s recent purchase of its Carrier Interferometry Patent Portfolio.

D13 will look to place up to a further $5m notes in Tranche 2, once approved by shareholders at an EGM. On behalf of the Henslow Team, we are excited about D13s future growth and opportunity in the expanding counter drown market and look forward to continuing to work with them.

More information here (ASX PDF)

Department 13 website