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Excite Technology Services Limited (ASX:EXT)

ALERT: Price-sensitive ASX Announcement for EXT
Current share price for EXT : $0.005 -0.003 (-37.50%)+
Announcement
Release
13 Mar 2026 9:52AM
Price at Release
$0.008
Full Release
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Summary
Excite Technology Services Limited announced it has secured $1.05 million through the issuance of unsecured convertible notes to existing sophisticated investors. These notes bear an interest rate of 15% per annum and have a maturity term of 12 months, with a conversion price set at $0.01 per share, subject to shareholder approval. Additionally, investors will receive one free-attaching option for every two shares issued upon conversion, exercisable at $0.012 with a 36-month expiry, also pending shareholder approval. This funding aims to bolster the company's growth and sustain cash flow positivity, following a record cash flow performance in the December 2025 quarter. The funding is expected to be finalized shortly after the announcement.
Key Points
  • Excite Technology Services Limited has secured $1.05 million in funding through unsecured convertible notes.
  • The convertible notes have an interest rate of 15% per annum, assessed quarterly.
  • The term for these notes is 12 months, with a conversion price of $0.01 per share.
  • The issue includes free-attaching options for every two shares issued upon conversion.
  • The company aims to use this funding to accelerate growth and improve cash flow positivity.
  • The December 2025 quarter marked a significant cash flow milestone for the company.
  • The funding is expected to complete in the coming days following the announcement.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.