Beonic Ltd has raised $4.27 million through convertible notes to fund its product development, repay upcoming debt, and advance its North African Airport Project.
- Total capital raised reaches $4.27 million via convertible notes
- Funds earmarked for product roadmap acceleration and debt repayment
- Convertible notes conversion price set at $0.24 per share
- Shareholder approval required for notes issued to Thorney Group and directors
- Approval expected at 2025 AGM with independent expert report underway
Capital Raise Overview
Beonic Ltd (ASX, BEO) has successfully increased its capital raise to a total of $4.27 million through the issuance of convertible notes, as confirmed in its latest announcement on 25 September 2025. This follows earlier disclosures in August outlining the terms and strategic intent behind the raise. The funds are set to support key growth initiatives and financial obligations, positioning the company for its next phase of development.
Strategic Deployment of Funds
The capital injection will be strategically allocated to accelerate Beonic’s product roadmap and innovation efforts, which are central to its AI-driven platform solutions. Additionally, a portion of the proceeds will be used to repay existing indebtedness maturing in January 2026, reducing financial risk and improving balance sheet flexibility. A notable focus is also the advancement of the North African Airport Project, a significant venture that could enhance Beonic’s footprint in a key regional market.
Convertible Notes and Attaching Options
The convertible notes carry a face value of $1 each with a conversion price set at $0.24 per share, offering investors a potential equity stake upon conversion. Alongside the notes, attaching options are issued at a ratio of approximately 2.083 options per note, providing additional upside potential. These options are granted upfront at no cost, incentivizing participation in the raise.
Shareholder Approval and Next Steps
Of the total notes, 2 million are allocated to the Thorney Group and associated entities, while 730,000 notes are designated for directors and their associates. Both these tranches require shareholder approval under relevant sections of the Corporations Act and ASX Listing Rules. The company plans to seek this approval at its upcoming Annual General Meeting on 18 November 2025. An independent expert’s report is currently being prepared to assist shareholders in their decision-making process.
Implications for Investors
The capital raise reflects Beonic’s proactive approach to funding its growth and managing debt, signaling confidence in its strategic projects and technology platform. However, investors should consider the potential dilution impact from the conversion of notes and exercise of options. The forthcoming AGM and expert report will be critical milestones to watch as they will shape the company’s capital structure and future trajectory.
Bottom Line?
Beonic’s capital raise sets the stage for accelerated innovation and debt reduction, with shareholder approval the next key hurdle.
Questions in the middle?
- How will the conversion of notes and options impact Beonic’s shareholding structure?
- What progress can be expected on the North African Airport Project following this funding?
- Will shareholder approval be secured smoothly at the upcoming AGM?