By Cameron England
Publication Date: 2026-04-28 03:23:00
Shares in an artificial intelligence company FortifAI Ltd (ASX: FTI) rose to a new 12-month high above $1 a share on Tuesday after the company said it had raised new growth capital.
Image source: Getty Images
New capital from the accelerators
The company said in a statement to the ASX on Tuesday that it had raised $15 million in a strongly backed capital raise at a price of 71.5 cents per share.
The company’s shares soared on the news, rising 41.3% to $1.01 and hitting a new 12-month high.
Shares traded for just 2.5p last year, meaning some shareholders are sitting on some very impressive profits.
The company said the money will be used “to accelerate Nol8 Technology’s technology, marketing and business development, support business development programs for existing assets, strengthen commercial initiatives and general working capital.”
Commenting on the increase, Shannon Robinson, non-executive chair of FortifAI, said:
We are pleased about the extraordinary support for this…