- Software company RocketBoots (ROC) has debuted on the ASX today after raising $4.25 million through an initial public offer (IPO)
- Nearly 21.3 million shares were issued at 20 cents through the IPO which was led by Taylor Collison
- RocketBoots’ lead software product, BeeHive, collects data through cameras and sensors to solve optimisation and security challenges in the retail, retail banking and workspace sectors
- In its first day of trade, RocketBoots has ended the day 10 per cent in the red to close at 18 cents and the company has an $11.44 million market cap
Software company RocketBoots (ROC) has debuted on the ASX today after raising $4.25 million through an initial public offer (IPO).
A total of 21.25 million shares were issued at 20 cents each through the IPO which was open from October 28 until November 12 and led by Taylor Collison.
The company was founded in 2004 by current chief technology officer Robin Hilliard who was later joined by current CEO, Joel Rappolt and current non-executive director, Karl Medak in 2007.
RocketBoots makes software products that it claims solve ‘fundamental problems’ across a range of businesses.
One of its products is the BeeHive software which has been designed to solve optimisation and security challenges in the retail, retail banking and workspace sectors by using edge computing, machine learning and analytics.
Specifically, RocketBoots’ intellectual property comprises three main components including the ‘Beehive Applications’, ‘Beehive Core’ and RocketBoots Core.
As outlined in its prospectus, the company intended to use the money raised in the IPO to list on the ASX, cover associated costs of the offer and working capital and support its expenditure program which includes funding a sales and technology team and marketing costs.
On its first day of trade, RocketBoots ended the day 10 per cent in the red to close at 18 cents. The company has a $11.44 million market cap.