FBR launches A$4m capital raise to accelerate Mantis and Hadrian commercialisation
Robotic technology company FBR Limited (ASX: FBR) has launched a capital raising of up to A$4 million to fund the commercialisation of its Dynamic Stabilisation Technology® (DST®) enabled robots, the Mantis™ welding robot and the Hadrian® bricklaying platform.
The programme combines a placement with firm commitments of A$1,500,000 and a share purchase plan (SPP) targeting up to A$2,500,000. Both components are priced off a reference issue price of A$0.115 per share.
The placement, which secured firm commitments via approximately 13 million shares, was led by boutique firms Peak Asset Management and Alpine Capital, appointed as Lead Managers to the placement.
The proceeds are intended to move FBR from development towards commercial deployment of two flagship robotic products, giving the company additional runway to pursue revenue-generating milestones.
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Where the money goes — funding the path to commercialisation
FBR has outlined four intended uses for the proceeds after costs from the placement and SPP:
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Complete Factory Acceptance Testing, commercial demonstrations and further development of the Mantis™ welding robot for additional applications
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Advance the commercialisation and deployment of the Hadrian® platform
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Repay short-term debt facilities
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Provide additional general working capital
The company noted this reflects its current intentions as at the date of the announcement, adding that the Board reserves the right to alter the way the funds are applied should intervening events or new circumstances arise.
Tying proceeds to commercial demonstrations and product deployment links the raise directly to potential revenue milestones, while debt repayment is intended to strengthen the balance sheet.
Placement and SPP terms explained
Placement details
The placement will raise A$1,500,000 via the issue of approximately 13 million new fully paid ordinary shares at A$0.115 per share. The issue price represents a 20.7% discount to the last closing price of A$0.145 on 2 September 2026, and a 10.9% discount to the 15-day VWAP.
Shares will be issued utilising FBR’s existing capacity under Listing Rule 7.1A and will rank pari passu with existing ordinary shares from the date of issue.
The placement also includes one free Placement Option exercisable at A$0.14 on or before the date five years following issue, for every one share issued. The issue of these options remains subject to shareholder approval.
Share Purchase Plan details
The SPP is seeking to raise up to A$2,500,000 and is intended to be fully underwritten. Eligible shareholders with a registered address in Australia or New Zealand as at the Record Date of 4 September 2026 will be invited to participate.
Eligible shareholders may subscribe for between A$1,000 and A$30,000 worth of new shares. The offer price will equal the lower of A$0.115 or a 2.5% discount to the 5-trading-day VWAP immediately prior to the closing date, rounded down to the nearest 0.1 cent.
SPP participants will be offered one SPP Option, on the same terms as the Placement Options, for every share subscribed and issued. The issue of the SPP Options also remains subject to shareholder approval.
| Feature | Placement | SPP |
|---|---|---|
| Amount | A$1,500,000 (firm commitments) | Up to A$2,500,000 |
| Issue price | A$0.115 per share | Lower of A$0.115 or 2.5% discount to 5-day VWAP |
| Discount | 20.7% to last close; 10.9% to 15-day VWAP | Up to 2.5% to 5-day VWAP |
| Options | 1 free option per share at A$0.14, 5-year expiry | 1 option per share, same terms as Placement Options |
| Approval status | Options subject to shareholder approval | Options subject to shareholder approval |
What is DST® and why it matters for investors
Dynamic Stabilisation Technology® (DST®) is FBR’s core technology, which the company states enables large-scale robots to perform accurate tasks. According to FBR, DST® allows robots to work outdoors or at large sizes, a capability that underpins both of its flagship products.
By combining DST® with physical AI and AI robot programming, FBR says it can create and deploy large-scale robotic solutions for industries including construction, welding and steel making, where labour shortages are constraining output.
The technology supports two distinct products:
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Mantis™ — a high deposition twin wire welding robot for large-scale metal fabrication industries such as mining, shipbuilding and defence manufacture
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Hadrian® — a bricklaying robot delivering Wall as a Service®, FBR’s commercial offering for builders
For investors, the significance lies in the platform nature of DST®. FBR describes many potential applications for the technology, framing the investment case as exposure to a scalable robotics platform rather than a single product.
Beyond Mantis and Hadrian, FBR has also launched the Firehawk steelmaking robot, a US$3.99 million autonomous refractory lining platform for steel producers that represents a third DST-powered product line with commissioning targeted for 2027.
CEO Mark Pivac on the commercialisation roadmap
FBR CEO Mark Pivac linked the raise directly to the company’s near-term commercial ambitions across both products.
Mark Pivac, CEO
“This capital raise positions FBR to commercialise our DST® (Dynamic Stabilisation Technology®) and large-scale robotic solutions such as Mantis™ and Hadrian®. Significantly we will demonstrate Mantis™ to large potential global customers including shipyards, heavy fabricators, mining and defence suppliers before the first Mantis™ is deployed to the USA following an upcoming Factory Acceptance Test. […] I eagerly anticipate the deployment of Hadrian® onto Western Australian building sites to verify the commercial modelling that indicates sound economic prospects. The Australian housing market continues to be in a long-term supply crisis with shortages of critical trades that Hadrian® can help to solve.”
Pivac also confirmed that FBR’s CEO and COO intend to participate in the SPP, a signal of insider alignment with the raise.
The US deployment of the first Mantis unit follows the North American distribution deal for Mantis signed with Louisiana-based Industrial Robotics, a five-year master agreement covering the United States and Canada across heavy fabrication, shipbuilding and defence manufacturing sectors.
Key dates and next steps for shareholders
FBR has provided an indicative timetable for the placement and SPP. The company cautions that the timetable is indicative only and may change without notice.
| Event | Indicative Date |
|---|---|
| Announcement of Placement & SPP | Monday, 7 September 2026 |
| Settlement of Placement shares | Wednesday, 9 September 2026 |
| Issue of Placement shares | Thursday, 10 September 2026 |
| SPP offer opening date | Monday, 14 September 2026 |
| SPP offer closing date | Friday, 25 September 2026 |
| Announcement of SPP results & issue of new shares | Friday, 2 October 2026 |
| SPP holding statements dispatched and trading new shares under SPP commences | Monday, 5 October 2026 |
| Prospectus lodged for offer of SPP Options | On or before 30 November 2026 |
| Shareholder meeting to approve SPP Options | On or before 30 November 2026 |
| Issue of SPP Options | Within 5 business days of shareholder approval |
Near-term catalysts for shareholders include the completion of Factory Acceptance Testing, the deployment of the first Mantis™ unit to the USA, and the verification of Hadrian®’s commercial modelling on Western Australian building sites.
FBR states it is now well positioned with developed products ready for sale and production, and a pipeline of future products driven by industry demand for large-scale DST® enabled robotics.
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