Drone Manufacturer Aims to Raise $8 Million
On 17th April 2026, Boresight, a leader in aerial target drone technology, announced it filed a prospectus for an Initial Public Offering (IPO) on the Australian Securities Exchange. The Fyshwick-based company plans to offer 40 million new shares at $0.20 each, aiming to raise approximately $8 million before costs.
This capital will enhance manufacturing capabilities, including expanding facilities in Fyshwick, Australia, and Huntsville, Alabama. Boresight’s Managing Director, Justin Olde, emphasised their commitment to investing in new manufacturing capabilities and hiring additional personnel. “We’re going to expand the facility we have here in Fyshwick, lease a new larger facility in Huntsville, Alabama, and increase our production capacity there,” he explained.
Defence Sector Investment
The IPO comes at a pivotal moment for the Australian defence industry. The federal government’s updated Integrated Investment Programme allocates between $12 billion and $15 billion to drone and autonomous systems over the next decade, including counter-drone capabilities. Boresight’s market capitalisation is estimated to reach approximately $41.8 million based on the offer price, with Perth’s CPS Capital managing the IPO.
Boresight’s strategy addresses the critical need for cost-effective military training solutions using drones. The company offers an integrated drone ecosystem, combining aerial target drones with mission planning software and scalable ground control systems. These systems support global defence partners with training infrastructure and engineering capabilities.
Serving markets across Australasia, North America, Europe, and the Middle East, Boresight demonstrates its strategic importance and expansive reach in the defence sector. The company’s aerial target drones play a crucial role in modern military readiness by enabling realistic counter-UAS training and testing.
Details of the offer can be found in the prospectus dated 17th April 2026, accessible to Australian residents at www.boresightuas.com. This release complies with Australian securities laws and is intended for use by Australian residents only.
Last updated: 17 April 2026, 6:34 pm
