Companies / ACE

ACUSENSUS LIMITED.

ASX:ACESoftware & Services
171.3M shares on issueAppendix 2A · as of 2 Sept 2026183.3M fully diluted+7.0% if every option and right converts$1.28price · delayed$218.7Mmarket cap · indicative

Today’s holders own 93.4% of what they think they own, once every option and right converts.

Moderate
Dilution risk

Share count grew 35% in 24 months; 3 cash raises in 24 months; options/rights overhang 7% of shares

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runwayno data — no longer lodges quarterly cash reports (4C/5B)
Share-count growth (24m)35.4%
Raise cadence (24m)3 cash raises
Options & rights overhang7.0% of shares
In-the-money supply2.8% of shares
Pending proposed issuesnone

ACUSENSUS LIMITED.'s ordinary share count grew 35.4% between September 2024 and September 2026, reaching 171M shares. In the past 24 months, the company raised capital three times, for a total of A$72.0M, with the most recent being a A$30.0M placement in December 2025. Options and rights on issue could convert into 12M new shares, representing 7.0% of the current share count, of which 3% are in the money; the nearest expiry is April 2027. The company no longer lodges quarterly cash reports, so no cash balance or funding-runway figure is disclosed. No proposed securities issues are pending.

AI-generated summary of this page's cited filings · updated 3 Sept 2026
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7.0%
Options & rights overhang
2.8%
In-the-money supply · most strikes not on record
2
Raises · last 12 months
—
Cash cover · stale filings

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 171.3M per Appendix 2A (filed 2 Sept 2026).
130M140M150M160M170MDec 24Oct 25Sept 26Cash raise · 11 Dec 2025Cash raise · 11 Dec 2025Cash raise · 3 Dec 2024

Cash runway

—
stale Last quarterly cash report is more than 12 months old (quarter ended 31 Dec 2024) — runway is not computed from stale filings.
$0 cash after burn from the quarter ended 31 Dec 2024. Filed with the quarterly report: $0 cash at quarter end (item 4.6), 0.0 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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6 quarters on record — Cash runway history
Quarterly cash, net spend and cover trend from every Appendix 4C/5B on record up to 31 Dec 2024.
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Issuance timeline

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

DateFormSecurityOn issue, per this filingSource
2 Sept 20263G · unquotedORDINARY FULLY PAID170.9MAppendix 3G
2 Sept 20262A · quoted issueACE : ORDINARY FULLY PAID171.3MAppendix 2A
1 Sept 20262A · quoted issueACE : ORDINARY FULLY PAID169.8MAppendix 2A
1 Sept 20262A · quoted issueACE : ORDINARY FULLY PAID170.4MAppendix 2A
31 Aug 20263G · unquotedORDINARY FULLY PAID169.4MAppendix 3G
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46 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

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

every 12.3 monthsaverage gap between raises
9 monthssince the most recent
3 Dec 2024 – 11 Dec 2025first to most recent in this window
$30.0M
Placement
11 Dec 2025 COMPLETE
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7 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.

2.5M of option supply could convert within 12 months — 1.4% of shares on issue
2.5M 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.

About 39% of the 15% placement capacity left — about 61% used by Appendix 3B filings in the last 12 months (estimate, as at 2026-09-12). The company has also placed under the additional 10% (Listing Rule 7.1A), which is not counted in this figure. Holder-approved issues and any later ratification are not deducted, so the true headroom can be higher.
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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

7.0%
Options & rights overhang · of current shares
2.8%
In-the-money supply · most strikes not on record
12.0M
Potential new shares
Apr 2027
Nearest expiry
What this supply is, and what converts it
  • Price-triggered4.8M · 2.8% of shares
    Options and warrants — they convert when the share price clears their exercise price.
  • Condition-triggered7.2M · 4.2% 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: 4.8M priced (of which 4.8M in the money), 7.2M 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
6.0M12.0M$1.28 now0.25× today ($0.32) — 1.0M of the priced supply in the money, 0.6% of shares on issue0.5× today ($0.64) — 4.3M of the priced supply in the money, 2.5% of shares on issue0.75× today ($0.96) — 4.3M of the priced supply in the money, 2.5% of shares on issue1× today ($1.28) — 4.8M of the priced supply in the money, 2.8% of shares on issue1.25× today ($1.60) — 4.8M of the priced supply in the money, 2.8% of shares on issue1.5× today ($1.92) — 4.8M of the priced supply in the money, 2.8% of shares on issue2× today ($2.56) — 4.8M of the priced supply in the money, 2.8% of shares on issue3× today ($3.84) — 4.8M of the priced supply in the money, 2.8% of shares on issue5× today ($6.40) — 4.8M of the priced supply in the money, 2.8% of shares on issue10× today ($12.80) — 4.8M of the priced supply in the money, 2.8% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $1.28 today, 4.8M securities are in the money (2.8% of shares on issue) — a floor, because an exercise price is on record for only 40.1% of this supply. No price up to ten times today’s switches on any more priced supply.

  • 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.
  • 7.2M (59.9% 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
ACEADOptionsPrice-triggered$0.5520 Apr 20271.1MFiling
ACEAEOptionsPrice-triggered$0.551 July 20271.4MFiling
ACEAFOptionsPrice-triggered$1.0012 Jan 2028250kFiling
ACEAABOptionsPrice-triggered$1.0017 Nov 2028250kFiling
ACEAGOptionsPrice-triggered$0.5526 Sept 2031355kFiling
ACEAAAPerformance rightsCondition-triggered——7.2MFiling Meeting
ACEAHOptionsPrice-triggered$0.16—500kFiling
ACEAIOptionsPrice-triggered$0.32—500kFiling
ACEAJOptionsPrice-triggered$0.47—500kFiling

“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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9 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
3 Sept 2026Alexander JanninkBuy incentive75k———3Y notice
11 May 2026Alexander JanninkOther incentive511k511k533k$282k3Y notice
3 Sept 2025Alexander JanninkBuy incentive201k—201k—3Y notice
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9 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

2 Sept 2026Update - Application for quotation of securities - ACE
2 Sept 2026$PEntry into Victorian road safety camera test sites agreement
2 Sept 2026Change of Director's Interest Notice
2 Sept 2026Notification regarding unquoted securities - ACE
1 Sept 2026Application for quotation of securities - ACE
1 Sept 2026Application for quotation of securities - ACE
31 Aug 2026Notification regarding unquoted securities - ACE
24 Aug 2026Acusensus Corporate Governance Statement and Appendix 4G
24 Aug 2026$PAcusensus FY26 Investor Presentation
24 Aug 2026$PAcusensus FY26 Results Release
24 Aug 2026$PAcusensus Appendix 4E and FY26 Annual Report
18 Aug 2026Order Under Work Zone Enforcement Program in Kentucky USA
13 Aug 2026Company Secretary Appointment/Resignation
3 Aug 2026$PStatewide Work Zone Enforcement Program in Kentucky USA
28 July 2026Acusensus FY26 Results Webinar
26 July 2026$PMobile Phone and Seatbelt Tech.Contract Extension in QLD
30 June 2026Notification regarding unquoted securities - ACE
30 June 2026Notification of cessation of securities - ACE
21 June 2026$PExtension of Mobile Speed Camera Contract in NSW
12 June 2026Change of Company Secretary

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