Audio Pixels Holdings Limited (ASX:AKP) Secures A$1 Million Funding

Funding Details

Audio Pixels Holdings Limited (ASX:AKP) has successfully issued a Convertible Note valued at A$1,000,000 to a sophisticated investor. This initiative is designed to provide the Company with the ability to investigate various capital management opportunities without time constraints.

The Company has confirmed that the investor does not belong to any related parties or key management personnel and is not a substantial holder or advisor to the Company.

Convertible Note Structure

In accordance with ASX Listing Rule 7.1, this issuance remains within the 15% equity securities placement capacity. The Convertible Note features a term extended to 31 December 2025, is unsecured, and carries an annual interest rate of 12%, capitalised until the repayment or conversion of the Note.

Additionally, the Note is convertible into ordinary shares at A$9.04, with a minimum conversion price set at A$5.00. The investor will also receive 200,000 unlisted options, with 100,000 options allocated per A$500,000 invested. These options have a strike price of A$10.84 and expire on 4 May 2027.

Previous Issuances

This issuance aligns with the terms established in earlier Convertible Notes issued on 5 September 2024 and 21 November 2024.

Fred Bart, the Company’s authorised representative, has confirmed this announcement for release to ASX.

View Original Accouncement

here

Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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