Beonic Raises A$3.74M to Accelerate Growth and Debt Refinancing
Beonic Limited has raised A$3.74 million through convertible notes, anchored by its largest shareholder, to accelerate growth, refinance debt, and support a major North African project.
- A$3.74 million raised via convertible notes
- Strong backing from Thorney Investment Group and company leadership
- Funds to accelerate product roadmap and North African Airport Project
- Convertible notes carry 10% interest, mature in 24 months
- Shareholder approval required for issuance of notes and options
Capital Raise Anchored by Major Shareholder
Beonic Limited (ASX – BEO), an AI-driven platform solutions provider, announced a significant capital raise of A$3.74 million through the issuance of convertible notes. The raise is anchored by Thorney Investment Group, the company’s largest shareholder, which has committed A$2 million. Notably, the Board, CEO Billy Tucker, and key management have also demonstrated strong support by committing over A$850,000 collectively.
Strategic Deployment of Funds
The capital injection is earmarked to accelerate Beonic’s growth strategy, including advancing its product roadmap and innovation initiatives. A key focus is the North African Airport Project, described as the largest contract of its kind in the region, which Beonic announced in late July 2025. Additionally, the funds will be used to refinance existing debt maturing in January 2026, providing the company with improved financial flexibility.
Convertible Notes and Attaching Options
The convertible notes carry a face value of $1 each, with a 10% annual interest rate payable semi-annually. They mature 24 months after issue, with provisions allowing early redemption or conversion into shares at a conversion price of A$0.24, subject to certain share price conditions. For every note issued, holders will receive 2.08 attaching options exercisable at $0.30 within three years, pending shareholder approval.
Leadership Confidence and Operational Progress
CEO Billy Tucker highlighted the raise as a milestone in Beonic’s transformation journey since his appointment in November 2023. The company has streamlined its operating model, focused on two key verticals, and strengthened its leadership team with new CFO Michael Pearce and CTO Marc Thompson. Beonic achieved positive cash flow and a robust EBITDA margin of 31.4% in Q4 FY25 (unaudited), underpinning confidence in its strategy and growth prospects.
Next Steps and Shareholder Approval
The issuance of the convertible notes and attaching options remains subject to shareholder approval, with a meeting and independent expert report expected in early October. Investors will be watching closely for the outcome, which will determine the immediate capital structure and funding runway for Beonic’s ambitious projects.
Bottom Line?
Beonic’s successful capital raise sets the stage for accelerated growth, but shareholder approval and execution on key projects will be critical next hurdles.
Questions in the middle?
- Will shareholders approve the convertible notes and attaching options in October?
- How will Beonic’s North African Airport Project progress with this new funding?
- What impact will potential note conversions have on share dilution and market sentiment?
