Beonic Ltd (ASX: BEO), an AI-driven platform that creates intelligent places by optimising touchpoints and driving loyalty, has announced the receipt of additional commitments, bringing the total amount raised to $4.27 million. The funds have been raised through the issue of convertible notes, as initially announced on 12 August and 21 August 2025.
The company intends to strategically deploy the raised capital to accelerate its product roadmap and innovation initiatives. A portion of the funds will be used to repay existing indebtedness maturing in January 2026, and to accelerate the North African Airport Project. The terms of the convertible notes remain consistent with those announced on 21 August 2025, featuring a face value of $1 and a conversion price of $0.24.
Attaching options will be issued upfront with the convertible notes for nil consideration. These attaching options will be issued on the basis of one attaching option for every two shares that may be issued via the conversion of the convertible notes. In total, subscriptions have been received for 4,270,000 convertible notes and 8,895,828 attaching options.
Shareholder approval will be sought at the 2025 Annual General Meeting (AGM), expected to occur on 18 November 2025, for the issue of 2,000,000 convertible notes and 4,166,666 attaching options to Thorney Group and associated entities. Approval will also be sought for the issue of 730,000 convertible notes and 1,520,832 attaching options to Directors and their associates. The company has stated that preparation of an independent expert’s report is underway and is expected to be circulated for shareholder consideration at the AGM.
