Sprintex to Raise A$1.075m Through Convertible Note Issue

Sprintex Limited ( (AU:SIX) ) has issued an announcement.

Sprintex Limited has arranged to raise A$1.075 million via the issuance of 1,075,000 convertible notes, each with a face value of A$1.00, maturing on 30 June 2027 and carrying an 8% annual cash interest rate. Noteholders may convert their holdings into ordinary shares from 30 June 2026 at a 10% discount to the 15-day VWAP, subject to a minimum conversion price of A$0.072 per share.

The company retains the option to redeem the notes in cash after 30 June 2026, while investors can elect to convert during the notice period, creating a balance between potential dilution and financing flexibility. Proceeds will support general working capital, cover offer costs, expand the sales team and fund fulfilment of customer orders, signalling a focus on operational growth and strengthening its market position.

More about Sprintex Limited

Sprintex Limited, listed on the ASX, operates in the automotive and industrial technology sector, focusing on the development and sale of supercharger and related clean-air and energy-efficient engine products. The company targets both domestic and international markets, with an emphasis on expanding its sales reach and fulfilling growing customer demand for its specialised systems.

Average Trading Volume: 410,366

Technical Sentiment Signal: Hold

Current Market Cap: A$51.96M

See more data about SIX stock on TipRanks’ Stock Analysis page.