Beonic (ASX: BEO), an AI-driven platform that transforms places where people work, play, travel, shop and meet—optimising touchpoints, driving loyalty, and delivering differentiated experiences—has announced it has successfully secured A$3.74 million in capital. The funds will be used to accelerate the company’s growth strategy, provide essential working capital, and refinance existing indebtedness. The capital raise is anchored by Beonic’s largest shareholder, Thorney Investment Group, with significant participation from existing shareholders, including the Board, CEO, and key management team members.
The A$3.74 million capital raise will be facilitated through the issuance of convertible notes. Thorney Investment Group has committed A$2.0 million to the notes, with the Board, management, and the CEO contributing over A$850,000. The funds are earmarked for strategic deployment, including accelerating the product roadmap and innovation initiatives, repaying existing debt maturing in January 2026, and advancing the North African Airport Project, Beonic’s largest contract in the region, as announced on July 29, 2025.
The convertible notes will be issued at a face value of $1.00, accruing interest at 10% per annum, payable semi-annually until maturity, which is 24 months after issuance. Beonic has the option to redeem the notes early. Noteholders can elect to convert their notes into shares if the 30-day VWAP exceeds $0.35, or at a conversion price of A$0.24 per share if Beonic chooses to redeem the notes early. Additionally, noteholders will receive 2.08 options to acquire shares for every note issued, exercisable at $0.30 within three years.
Beonic CEO Billy Tucker expressed gratitude to Thorney and other shareholders for their continued support. He noted that the funding, combined with existing cash reserves and projected positive cash flow for FY 2026, positions the company to fund its product roadmap, accelerate growth, and retire existing debt. The issuance of the notes and attaching options is subject to shareholder approval, with a notice of meeting and an independent expert’s report expected to be dispatched in early October.
