Bell Potter Prepares Equity Raise for FBR’s Innovative Bricklaying Robots

ByPatrece Liburd

JAN 18, 2024

Perth-based bricklaying robot maker FBR (formerly Fastbrick) is getting ready for an equity raise with the help of Bell Potter, according to Street Talk. The company recently announced a joint venture with CRH Ventures Americas, a major concrete block supplier in the US.

FBR is known for its dynamically stabilised robots that can efficiently construct brick structures faster, cheaper, and with greater accuracy than human workers. Its impressive shareholder register includes Brickworks, M&G, Fidelity International, and the company’s own chief technical officer and inventor, Mark Pivac.

This raise is still in the final stages of negotiation, with meetings scheduled with institutional investors and a bookbuild set for Friday. The details of the raise are yet to be determined, but it signifies a significant step for FBR in securing the necessary funding for its continued growth and expansion.

The joint venture with CRH Ventures Americas is another milestone for FBR, as the subsidiary plans to purchase 20 of FBR’s Hadrian X robots at $2 million each. The robots are expected to generate substantial revenue, with each unit projected to bring in $32 million annually when utilized at 60%. The deal also includes a $40 million rolling loan facility to support FBR’s expansion plans in the US market.

While FBR’s shares have experienced a decline of 28% over the past year, this development holds promise for the company’s future growth. The trading halt on Thursday indicates the significance of this upcoming equity raise and the positive outlook for FBR’s innovative bricklaying technology.

In conclusion, with the assistance of Bell Potter, FBR is gearing up for an equity raise that will propel its business forward. The joint venture with CRH Ventures Americas and the acquisition of FBR’s robots signify opportunities for growth and expansion in the US market. The future looks promising for FBR’s bricklaying technology as it seeks additional funding and continues to revolutionize the construction industry.

FAQ Section:

1. What is FBR known for?
FBR is known for its dynamically stabilised robots that can efficiently construct brick structures faster, cheaper, and with greater accuracy than human workers.

2. Who are some of FBR’s major shareholders?
FBR’s major shareholders include Brickworks, M&G, Fidelity International, and the company’s own chief technical officer and inventor, Mark Pivac.

3. What is the purpose of the equity raise?
The equity raise is to secure necessary funding for FBR’s continued growth and expansion.

4. What is the joint venture with CRH Ventures Americas?
The joint venture involves CRH Ventures Americas purchasing 20 of FBR’s Hadrian X robots at $2 million each. It also includes a $40 million rolling loan facility to support FBR’s expansion plans in the US market.

5. How much revenue is each robot expected to generate annually?
Each robot is projected to bring in $32 million annually when utilized at 60%.

Key Terms:
– Equity raise: The process of raising funds by selling shares of a company’s stock to investors.
– Joint venture: A business arrangement in which two or more companies agree to work together on a specific project or goal.
– Bookbuild: The process of determining the demand and price for a securities offering by potential investors.

Suggested Related Links:
– FBR Official Website
– Bell Potter Official Website
– CRH Official Website