Companies / 3DA

AMAERO INC.

ASX:3DACapital Goods
953.3M shares on issueASX (delayed) · snapshot 11 Sept 20261.06B fully diluted+11.5% if every option and right converts$0.24price · delayed$233.6Mmarket cap · indicative

Today’s holders own 89.7% of what they think they own, once every option and right converts.

High
Dilution risk

Runway under 2 quarters; share count grew 76% in 24 months; 2 cash raises in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway0.5 quarters of funding
Share-count growth (24m)75.5%
Raise cadence (24m)2 cash raises
Options & rights overhang11.5% of shares
In-the-money supply2.7% of shares
Pending proposed issuesnone

AMAERO INC.'s ordinary share count grew 75.5% between August 2024 and May 2026, to 953M shares. The company raised capital three times in the past 24 months for total disclosed proceeds of A$97.5M, most recently a A$50.5M placement and SPP in August 2025. Options and rights on issue could convert into 110M new shares, equal to 11.5% of the current share count, of which 3% are in the money at the current share price; the nearest expiry falls in December 2026. At the June 2026 quarter the company reported A$10.0M in available cash, about 0.5 quarters of funding at its recent spending rate. No proposed securities issues are currently pending.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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11.5%
Options & rights overhang
2.7%
In-the-money supply · most strikes not on record
0
Raises · last 12 months
0.5 qtrs
Cash cover · under 2 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 953.3M per ASX (delayed) (snapshot 11 Sept 2026).
600M700M800M900MDec 24Oct 25Sept 26Cash raise · 18 Aug 2025Cash raise · 6 Feb 2025953.3M

Cash runway

0.5 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
The latest quarterly report funded operations to about Aug 2026 — that date has passed, and no later report is on record.
$9.8M cash after burn from the quarter ended 30 June 2026 · Runway is computed from Appendix 4C/5B filings and announced raise proceeds. Filed with the quarterly report: $19.4M cash at quarter end (item 4.6), 2.3 qtrs of funding on the company’s own estimate. Our figure above carries the filed quarter-end balance forward at the reported spend rate and adds announced raise proceeds.
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12 quarters on record — Cash runway history
Quarterly cash, net spend and cover trend from every Appendix 4C/5B on record up to 30 June 2026.
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Issuance timeline

Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)

DateFormSecurityOn issue, per this filingSource
3 Sept 20263G · unquoted3DA : CHESS DEPOSITARY INTERESTS953.3MAppendix 3G
27 Aug 20263H · cancellation3DA : CHESS DEPOSITARY INTERESTS953.3MAppendix 3H
19 Aug 20263H · cancellation3DA : CHESS DEPOSITARY INTERESTS953.3MAppendix 3H
2 Aug 20263H · cancellationCHESS DEPOSITARY INTERESTS 40:1953.3MAppendix 3H
15 June 20263G · unquoted3DADA : CDI 40:1 DEFERRED SETTLEMENT952.9MAppendix 3G
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110 filings on record — Full issuance history
Every quoted and unquoted issue and cancellation on record, plus unquoted securities (Appendix 4.2).
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Capital raises

2 cash raises in the last 24 months · 0 in the last 12 months

every 6.3 monthsaverage gap between raises
12.8 monthssince the most recent
6 Feb 2025 – 18 Aug 2025first to most recent in this window
$50.5M
Placement and SPP
18 Aug 2025
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3 raises on record — Full raise history
Issue price, shares issued, brokers and stated purpose for every raise on record.
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Forward supply

Every dated event on record that could add securities to the register — option expiries to their stated dates and proposed issues over the next 18 months, on one timeline.

25.7M of option supply could convert within 12 months — 2.7% of shares on issue
25.7M in the money, expiring in the window
Out-of-the-money options are excluded — at today’s price they expire rather than convert. So is condition-triggered supply, which has no expiry and no price, and convertibles that convert on their own terms rather than on a date.
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5 dated events on record — Forward supply calendar
Option expiries and proposed issues on one forward timeline, with the securities each could add.
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Placement capacity

How much stock a company can place without asking holders. Listing Rule 7.1 allows 15% of ordinary securities in any 12 months, and every Appendix 3B states how much of it an issue uses.

No Appendix 3B in the last 12 months reports an issue under the 15% placement capacity (as at 2026-09-12).
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Placement capacity — LR 7.1 / 7.1A
The filings behind the figure: every Appendix 3B in the window with what it says was issued under 7.1 and 7.1A, each row linked to its filing, and how many shares are left.
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Pending proposed issues

No proposed issues (Appendix 3B) currently pending.

Options & convertible securities

11.5%
Options & rights overhang · of current shares
2.7%
In-the-money supply · most strikes not on record
109.6M
Potential new shares
Dec 2026
Nearest expiry
What this supply is, and what converts it
  • Price-triggered107.1M · 11.2% of shares
    Options and warrants — they convert when the share price clears their exercise price.
    At least 74.4M of it states no exercise price — that much cannot be called in or out of the money.
  • Condition-triggered2.6M · 0.3% of shares
    Performance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.

Exercise price on record: 32.7M priced (of which 25.7M in the money), 76.9M where the filing never states one. A security with no exercise price is never counted in the money — nothing is paid to convert it, so there is no price for it to be above.

Each figure is the filing’s own count of securities, not a share count — a 2A never states what one security converts into.

What a price move would switch on
54.8M109.6M$0.24 now0.25× today ($0.06) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.12) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.18) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.24) — 25.7M of the priced supply in the money, 2.7% of shares on issue1.25× today ($0.31) — 25.7M of the priced supply in the money, 2.7% of shares on issue1.5× today ($0.37) — 26.7M of the priced supply in the money, 2.8% of shares on issue2× today ($0.49) — 28.7M of the priced supply in the money, 3.0% of shares on issue3× today ($0.73) — 32.7M of the priced supply in the money, 3.4% of shares on issue5× today ($1.23) — 32.7M of the priced supply in the money, 3.4% of shares on issue10× today ($2.45) — 32.7M of the priced supply in the money, 3.4% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.24 today, 25.7M securities are in the money (2.7% of shares on issue) — a floor, because an exercise price is on record for only 29.8% of this supply. No more priced supply until 1.5× today’s price, which takes it to 26.7M (2.8% of shares).

  • Priced supply in the money at the price on the axis — the curve, and the only thing on it. Ten prices, sampled: between two of them the true figure lies between the two.
  • 76.9M (70.2% of the supply above) states no exercise price at all. It cannot be called in or out of the money at any price, which is why it is hatched rather than plotted.
CodeSecurityTypeExercise priceExpiryOn issueSource
3DAAQOptionsPrice-triggered$0.2427 Dec 202625.7MFiling
3DAAYOptionsPrice-triggered$0.368 Feb 20271.0MFiling
3DAAROptionsPrice-triggered$0.505 Apr 20271.0MFiling
3DAABDOptionsPrice-triggered$0.508 Nov 20273.0MFiling
3DAAAZOptionsPrice-triggered$0.395 Aug 20292.0MFiling
——Condition-triggered——2.6MFiling Meeting
3DAABLOptionsPrice-triggered——74.4MFiling

“Nil” is a stated nil exercise price: nothing is paid to convert. An em dash means the filing names no exercise price at all. Security is read from the filing’s own class description; an em dash there means the description is not one this table labels. One row is one security class, at the number stated in the most recent quotation application that restated it — linked, and dated, in the last column.

A condition-triggered class has no exercise price and usually no expiry: what it vests on is set by a shareholder resolution, not by the register. Where the company lodged a notice of meeting before the class first appears here, it is linked as “Meeting” — that is where terms of this kind are put to shareholders. It is not confirmation that the document sets this class’s conditions, and no link appears where there is no such filing.

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7 option lines on record — In-the-money value & price ladder
What each line is worth in the money today, the price ladder to the next tranche that converts, and the filing description behind every code.
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Director dealings

DateDirectorTypeSharesOptionsOtherValueSource
28 Aug 2026Mr Bob LattaOther incentive298.4M2.6M639k—3Y notice
28 Aug 2026Mr Omer GranitOther incentive639k———3Y notice
28 Aug 2026Mr Tim JohnsonOther incentive639k600k——3Y notice
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45 notices on record — Full dealing history
Every change-of-director's-interest notice on record, with direction and consideration.
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Ownership

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Top-20 holders & substantial holder notices
Top-20 register snapshot and substantial-holder movements, each linked to its source notice.
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Latest announcements

3 Sept 2026Change of Director's Interest Notice - Omer Granit
3 Sept 2026Change of Director's Interest Notice - Erik Levy
3 Sept 2026Change of Director's Interest Notice - Bob Latta
3 Sept 2026Change of Director's Interest Notice - Tim Johnson
3 Sept 2026Notification regarding unquoted securities - 3DA
28 Aug 2026Results of Special Meeting of Stockholders
27 Aug 2026Notification of cessation of securities - 3DA
27 Aug 2026Change in substantial holding - Pegasus
27 Aug 2026Change of Director's Interest Notice - Hank Holland
27 Aug 2026Change of Director's Interest Notice - Tim Johnson
27 Aug 2026Change of Director's Interest Notice - Bob Latta
27 Aug 2026Release of Australian Taxation Office Class Rulings
27 Aug 2026Change of Director's Interest Notice - Bob Latta
25 Aug 2026Change of Director's Interest Notice - Erik Levy
21 Aug 2026Special Meeting Update
19 Aug 2026Notification of cessation of securities - 3DA
19 Aug 2026Change in substantial holding - Pegasus
18 Aug 2026Appendix 4G and Corporate Governance Statement
18 Aug 2026$PAppendix 4E and Audited Financial Report
6 Aug 2026EGM Notice/Proxy Statement

Headlines link to the source PDFs on the ASX announcements platform. Data as of 12 Sept 2026.