SIBF partner Doron Eldar, who is also a non-executive director of Dotz, said: “When we first invested in Dotz we saw huge global potential for its technology and our investment thesis has been vindicated.
“The four commercial agreements already put in place this year and the strong pipeline point to an exciting growth runway ahead.
“SIBF is delighted to further increase its investment Dotz via the commitment to exercise all of its options and to provide Dotz with further growth funding to execute on the exciting opportunities we see for this business globally.”
“Funding rapid growth”
Dotz chairman Bernie Brookes AM said: “SIBF has been a very supportive shareholder of Dotz and we are delighted that it has committed to increase its investment in the company and provide additional funding to support the rapid growth we are now experiencing.
“Dotz has had a strong start to 2020, with the contracts signed and our growing sales pipeline providing strong momentum for future sales growth.
“We are in advanced negotiations with several potential customers across multiple applications for Dotz’s technology, and are confident of converting these negotiations and current pilots into contracts and recurring sales before the end of this year.”
To ensure that SIBF complies with Section 606 of the Corporations Act 2001 (Cth), SIBF has committed the additional growth funding via two tranches:
- Tranche one consists of the immediate exercise of 9.55 million options to raise $859,500 and this will increase SIBF’s shareholding in Dotz to 19.82%, based on current shares on issue.
- Tranche two will occur six months after the issue of tranche one shares and includes the exercise of the remaining 9.89 million options for $890,500, subject to receipt of Foreign Investment Review Board approval if required.
Dotz Nano is a technology leader in research, production and marketing of anticounterfeiting, authentication and tracing solutions.
The company has strong, established distributors in North America, Europe, Japan, China and Australia as well as scientific collaborations and partnerships with leading academic institutes.