• Spacetalk secures $3 million in growth capital from its largest shareholder, Thorney Investment Group
• Secured lender agrees to convert $1 million of existing debt into convertible notes
• Funds to be used for international expansion, new app ecosystem, hardware development, and general corporate expenses

Spacetalk Ltd (ASX: SPA) has secured $3 million in growth capital from its largest shareholder, Thorney Investment Group, and its secured lender has agreed to convert $1 million of existing debt into convertible notes. The $3 million investment from Thorney will be in the form of new unsecured convertible notes that will convert into fully paid ordinary shares in the company on 31 July 2026, subject to shareholder approval. The convertible notes will accrue interest at a rate of 10% per annum, payable through the issue of shares on a quarterly basis, also subject to shareholder approval. The secured lender, Pure Asset Management, has also agreed to subscribe for 1 million convertible notes in exchange for $1 million of existing secured debt. Additionally, Pure has committed to suspending all capital repayments for the remainder of 2025 and extending the maturity date of the remaining loan facility by three months to 30 June 2027. The funds raised through the issue of the convertible notes will be used to continue Spacetalk's international expansion, develop a new app ecosystem, design and develop new hardware, and for working capital and general corporate expenses. The company's CEO, Simon Crowther, stated that the support from Thorney and the lender underlines their confidence in Spacetalk's strategy and will allow the company to fund growth while protecting existing shareholders from immediate dilution.