But he also urged caution over expecting a quick fix and insisted it will take time before the Light Blues are a real force within Scottish football.
The Irn-Bru Division Three outfit will seek admission to the Alternative Investment Market of the London Stock Exchange in the hope of raising up to £20million.
It is hoped their admission into the AIM can be completed by the end of the year, as they continue re-ordering their finances following the liquidation of the 'oldco' club and the acquisition of its assets by Charles Green's consortium in the summer.
McCoist has been working closely with Green on trying to take the club forward, and said: "I'm excited because this has been the most dramatic six months for the club and its support.
"I don't believe for a minute that we're out of the woods yet, but there is light at the end of the tunnel.
"I don't think the vast majority of our support know exactly what's happened to the club. We've lost 28 players in six months.
"We're not going to get back to where we were overnight, there has to be a realistic approach to it. At least now we can see where we want to go and there's a path to it.
"I'm very confident that we'll get back to where we were. In fact, I'm really looking forward to the challenge."