InvestSMART

Scalare Partners Holdings Limited (ASX:SCP)

ALERT: Price-sensitive ASX Announcement for SCP
Current share price for SCP : $0.060 0.01 (20%)+
Announcement
Release
2 Jul 2026 9:35AM
Price at Release
$0.050
Full Release
download
Summary
Scalare Partners Holdings Limited has secured a $5 million binding commitment for convertible notes, part of a $25 million Convertible Security Funding Agreement with The Blackstone Mercantile Group Ltd. The first tranche includes an immediate $500,000 loan, with an additional $4.5 million contingent on shareholder approval. Funds are allocated for new investments and operational needs. A 60:1 share consolidation is required, and the company plans a bonus issue to mitigate dilution effects. The investor's holding is capped at 19.99% of the company’s capital. The transaction terms are outside of the current ASX Listing Rule 7.1 capacity, necessitating shareholder approval.
Key Points
  • Scalare Partners Holdings Limited announces a $5 million convertible note commitment, which is part of a larger $25 million Convertible Security Funding Agreement.
  • The first tranche is an immediate loan of $500,000, with a second tranche of $4,500,000 upon shareholder approval.
  • The funds will be used for new investments, market communications, and working capital.
  • The agreement requires a 60:1 share consolidation, subject to shareholder approval.
  • The facility allows for future funding of up to $20 million, subject to conditions.
  • A bonus issue is planned to reduce dilution impact for existing shareholders.
  • The investor, The Blackstone Mercantile Group Ltd. SAC, will not hold more than 19.99% of the company’s issued capital.
  • Convertible notes are subject to conversion restrictions under ASX Listing Rule 7.1, requiring shareholder approval.
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.