$1m Structured Funding Facility Secured
| Stock | Intelicare Holdings Ltd (ICR.ASX) |
|---|---|
| Release Time | 9 Jul 2025, 12:15 p.m. |
| Price Sensitive | Yes |
$1m Structured Funding Facility Secured
- $1 million in additional funding secured through convertible note facility and R&D loan
- Funding to support scale-up of InteliCare platform and execution of commercial pipeline
- Convertible notes to be converted into shares at $0.007 per share with free attaching options
InteliCare Holdings Ltd (ASX: ICR), an Australian Software-as-a-Service (SaaS) technology company, has secured $1 million in additional funding to continue the scale-up of its proprietary AI-driven InteliCare platform. The funding has been secured through a structured financing approach, including a $600,000 convertible note facility and a $400,000 R&D loan. The convertible note facility allows the company to draw funds in tranches of at least $50,000 in return for the issuance of unsecured convertible notes. These notes will accrue interest at a rate of 15% per annum and can be converted into shares at a price of $0.007 per share, with each conversion share accompanied by a free attaching option with an exercise price of $0.02 and a 3-year expiry. The R&D loan of $400,000 is secured against claimable R&D spend to be undertaken up to the end of 2025 and included in the FY2026 company tax return. Rockford Equity Pty Ltd, the lender, has an election option to convert up to $200,000 of the R&D loan into shares at the same $0.007 conversion price, with a free attaching option. This additional funding will provide the necessary resources to support key existing deployments, as well as allow the company to execute on further commercial opportunities within its pipeline and continue strategic partnership and investment discussions.
The additional funding secured will allow InteliCare to continue the scale-up of its InteliCare platform and execute on further commercial opportunities within its current sales pipeline. The company's largest deployment at Hardi Aged Care and the key trial deployment at mecwacare's Trescowthick facility are expected to continue expanding, further strengthening the evidence base and value proposition of the InteliCare solution.