HiTech raises $4M placement to fund $3.6M Hudson deal
What's the deal? HiTech Group AustraliaDealroom has a profile for this one. Try Dealroom → has raised US$2.59M through a share placement to help fund its acquisition of selected assets from Hudson Global Resources (Aust)Dealroom has a profile for this one. Try Dealroom →. The company issued 4,000,000 new shares at US$0.65 each before costs.
The terms: The US$0.65 offer price reflects a 9.9% discount to HiTech's closing price of US$0.72 on September 11, 2026, and a 13.3% discount to the five-day volume weighted average price. Blue Ocean EquitiesDealroom has a profile for this one. Try Dealroom → acted as sole lead manager and bookrunner.
The bigger picture: The placement is one piece of US$14M in total funding for the Hudson acquisition, alongside US$4.98M in HiTech cash and a US$6.47M term loan. Of that, US$3.3M covers the upfront consideration, with the rest going to refinancing, transaction costs, and working capital.
Why now? The raise coincides with the start of Hudson's integration. Settlement is expected on September 22, 2026, with share allotment the following day.
What's the endgame? Managing director and chief executive officer Elias Hazouri called the acquisition "transformational," saying it establishes a national recruitment and professional services platform with roughly US$139.8M in pro forma combined revenue. He said the funding approach preserves much of HiTech's cash while covering working capital needs.
The signal: By blending cash, debt, and equity, HiTech is stretching to build scale in Australia's recruitment market without exhausting its balance sheet — a bet that a larger platform can compete more effectively for professional services work.
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