Ascent Bridge Limited’s S\$2.37 Million Placement Update: Key Utilisation Breakdown and Implications for Investors

Key Points from the Latest Placement Proceeds Utilisation Report

• Ascent Bridge Limited has successfully raised approximately S\$2,366,022 in net proceeds from a recent share placement of 17,414,446 new ordinary shares at S\$0.14 per share.
• After deducting placement expenses of about S\$72,000, the net proceeds are being allocated towards general working capital purposes, in line with prior announcements.
• As of this latest update, a total of S\$312,000 of the net proceeds has been utilised, leaving a balance of S\$115,000 yet to be deployed.

Detailed Breakdown of Proceeds Utilisation

The Board provided a granular breakdown of how the S\$312,000 utilised since 29 August 2025 has been spent:

• Rental Expenses: S\$75,000
• Payroll-related Expenses: S\$136,000
• Audit Fee: S\$60,000
• Payments to Suppliers: S\$31,000
• Professional Fees: S\$10,000

This transparent disclosure allows shareholders to scrutinise the company’s spending and confirm alignment with the stated intentions from the placement announcements.

What Shareholders Need to Know

• Price Sensitive Information: The update confirms that the proceeds are being used strictly for general working capital and operating expenses, with no deviation into alternative investments or acquisitions so far.
• Remaining Funds: Only S\$115,000 of the placement proceeds remain. This could be material if the company announces any change in the intended use of these funds, or if future disbursements signal a shift in operational priorities.
• Ongoing Disclosure: The Board has committed to periodic updates on the utilisation of the remaining balance, and will include status reports in annual and financial results announcements until the funds are fully used.
• Potential Share Price Impact: While the company’s adherence to stated use may reassure investors of prudent management, any future redirection of the remaining funds or unexpected changes in use could potentially affect investor sentiment and share price volatility.

Leadership Commitment

The update is signed off by Qiu Peiyuan, Chairman and CEO, reaffirming the Board’s oversight and commitment to transparency.

Investor Takeaways

Investors should monitor subsequent announcements for any material changes in how the remaining net proceeds are deployed. The company’s transparency in reporting and adherence to its stated capital use is positive, but any unexpected developments regarding future use of funds could be price moving.

Disclaimer: This article is for informational purposes only and does not constitute financial advice or a recommendation to buy or sell securities. Investors should conduct their own due diligence and consult with professional advisers before making investment decisions.