Beonic Ltd Announces Results of Entitlement Offer
Key points
- Entitlement offer closed, raising $1,577,882.56 before costs
- Higher uptake than anticipated, sub-underwriters extinguished
- TIGA underwriting shortfall for $702,606.00
- Alpine Capital to complete shortfall shares by 23 June 2026
Full summary
Beonic Ltd announced the closure of its partially underwritten 5-for-9 pro rata renounceable entitlement offer, raising $1,577,882.56 before costs from existing shareholders. The uptake was larger than anticipated, leading to the extinguishment of the general sub-underwriters' obligations. TIGA Trading Pty Ltd underwrote the shortfall for $702,606.00. Alpine Capital Pty Ltd, the underwriter, has been notified of the remaining shortfall amount of 17,945,952 shares, which it will complete by 23 June 2026. New securities are expected to be issued on 24 June 2026.
Guidance
Management expects to raise the full $3,013,558 as outlined in the Prospectus.
Outlook
The Company remains committed to achieving its financial goals as outlined in the Prospectus.
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