Beonic Raises AU$4.3 Million Via Convertible Notes Issuance

MT Newswires Live09-25

Beonic (ASX:BEO) received additional commitments to bring the total amount raised via the issuance of convertible notes to AU$4.3 million, according to a Thursday Australian bourse filing.

The funds raised will be used for product roadmap and innovation initiatives, the repayment of existing debt, and the acceleration of the North African airport project.

Attaching options will be issued upfront with the convertible notes, issued based on one option for every two shares that may be issued via the conversion of the notes, rounded down.

In total, subscriptions were received for 4,270,000 convertible notes and 8,895,828 attaching options.

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