ADX ENERGY LTD

ASX:ADXEnergy

1.08B shares on issueASX (delayed) · snapshot 28 Oct 20261.30B fully diluted+19.5% if every option and right converts$0.017price · delayed$18.4MMarket capAt the previous close. On a day the price moves, shares × today’s price will differ. Prices delayed.

Today’s holders own 83.7% of what they think they own, once every option and right converts.

Very high

Dilution risk

Share count grew 90% in 24 months; 3 cash raises in 24 months; options/rights overhang 20% of shares

Absolute levels — not a ranking against other companies.

Cash runwayno data — latest quarter's spending was dominated by property, plant and equipment, so its cash flow is not a runway

Share-count growth (24m)89.5%

Raise cadence (24m)3 cash raises

Options & rights overhang19.5% of shares

In-the-money supply0.0% of shares

Pending proposed issuesopen proposed issue (Appendix 3B)

ADX ENERGY LTD's ordinary share count increased 89.5% between October 2024 and September 2026, its latest share-count filing, to 1.08B shares. The company completed three capital raises in the past 24 months for total disclosed proceeds of A$11.6M, most recently a A$3.6M placement in July 2026. Options and rights on issue could convert into 211M new shares, representing a 19.5% overhang on current shares, none of which are in the money; the nearest expiry is in July 2027. For the September 2026 quarter, no funding-runway figure applies because spending was dominated by property, plant and equipment rather than operating costs. One proposed securities issue (Appendix 3B) is pending, with an expected issue date in December 2026.

AI-generated summary of this page's cited filings · updated 28 Oct 2026

Quick answers · 4

Is ADX raising capital?

ADX Energy has 1 proposed issue of securities pending under Appendix 3B as at 28 Oct 2026; the most recent raise announced is Placement of $3.6M on 22 July 2026.

How much cash does ADX have?

In its quarterly cash report for the quarter ended 30 Sept 2026, ADX Energy reported $2.3M of cash and estimated 3.0 quarters of funding available at its current rate of spending. That is the company's own estimate.

When do ADX's options expire?

Unexercised options and rights equal 19.5% of ADX Energy's shares on issue; the nearest expiry is July 2027.

How much has ADX's share count grown?

ADX Energy has 1.08B shares on issue as at 28 Oct 2026, up 89.5% over 24 months according to its Appendix 2A filings.

Get told when this changes

Get ADX alerts

Free for up to 2 companies. A daily email when ADX raises money, files a new share issue, drops below 2 quarters of cash or moves risk level.

19.5%

Options & rights overhang

0.0%

In the moneyAn option whose exercise price is below the last closing share price, so converting it pays. These are the options most likely to become new shares soon. supply

Raises · last 12 months

—

Cash cover · capital spending, not a runway

Shares on issue — last 2 years

Ordinary shares on issue

Weekly counts from ASX records. Dots mark cash capital raises. Latest count 1.08B per ASX (delayed) (snapshot 28 Oct 2026).

Cash runway

—

The latest quarter’s spending was dominated by property, plant and equipment, so its cash flow does not describe a funding runway.

$1.3M cash after burn.

FILED 3.0 qtrs · $2.3M cash · quarter ended 30 Sept 2026

OURS our estimate, carried to todayOURSOur estimate for today. We take the cash in the company’s latest cash report, deduct spending since at its reported rate, and, for quarterly filers, add raises announced after it. It moves daily; announced money may not all be received yet.$2.3M cash at 30 Sep 2026 − $1.0M spent ($3.2M a quarter × 28 days) = $1.3M leftFILED as the company reportedFILEDAs the company stated it in its latest cash report. Dated to the end of that period, it does not change until the next report.

Free account

12 cash reports on record — Cash runway history

Cash, net spend and cover trend from every Appendix 4C/5B and 4D/4E on record up to 30 Sept 2026.

Free account: 2 full company unlocks every month, no card.

Unlock ADX free See plans

Issuance timeline

Latest 5 filings (Appendix 2AThe form a company lodges to have new securities quoted on the ASX. It restates how many of each class are on issue. quoted issues, 3G unquoted, 3H cancellations)

Date	Form	Security	On issue, per this filing	Source
10 Sept 2026	2A · quoted issue	ADX : ORDINARY FULLY PAID	1.08B	Appendix 2A
10 Sept 2026	2A · quoted issue	ADX : ORDINARY FULLY PAID	1.08B	Appendix 2A
12 Aug 2026	2A · quoted issue	ADX : ORDINARY FULLY PAID	1.07B	Appendix 2A
12 Aug 2026	2A · quoted issue	ADX : ORDINARY FULLY PAID	1.08B	Appendix 2A
12 Aug 2026	3G · unquoted	ADX : ORDINARY FULLY PAID	1.07B	Appendix 3G

Free account

67 filings on record — Full issuance history

Every quoted and unquoted issue and cancellation on record, plus unquoted securities (Appendix 4.2).

Free account: 2 full company unlocks every month, no card.

Unlock ADX free See plans

Securities on issue over time

Ordinary shares and every option and rights class, month by month over two years. The top edge is the fully diluted count.

Free account

Securities on issue, by class

How the share count and each option and rights class moved, month by month, with every number in a table.

Free account: 2 full company unlocks every month, no card.

Unlock ADX free See plans

Capital raises

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

every 4.1 monthsaverage gap between raises

3.2 monthssince the most recent

13 Nov 2025 – 22 July 2026first to most recent in this window

$3.6M

Placement

At 2.0c, 16.7% below the last close

22 July 2026 COMPLETE

Free account

8 issues (incl. 1 exercise or conversion) on record — Full raise history

Issue price, shares issued, brokers and stated purpose for every raise on record.

Free account: 2 full company unlocks every month, no card.

Unlock ADX free See plans

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.

300k of option supply could convert within 12 months — 0.0% of shares on issue

300k at a stated nil exercise price — nothing is paid to convert these

1 proposed issue (Appendix 3B) also pending — not counted above; the securities each would add are in the calendar below.

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.

Free account

17 dated events on record — Forward supply calendar

Option expiries and proposed issues on one forward timeline, with the securities each could add.

Free account: 2 full company unlocks every month, no card.

Unlock ADX free See plans

Placement capacity

How much stock a company can place without asking holders. Listing Rule 7.1 / 7.1ARule 7.1 lets a company issue up to 15% of its shares in 12 months without a shareholder vote. Rule 7.1A adds 10% for smaller companies whose holders approve it. allows 15% of ordinary securities in any 12 months, and every Appendix 3BNotice that a company proposes to issue new securities, such as a placement. The securities are not on issue until a later filing confirms it. states how much of it an issue uses.

No estimate — the filings already exceed 15% of the share count we can measure, which means securities were added to the base during the year, or holders ratified an issue, in a way we cannot match. The company has also placed under the additional 10% (Listing Rule 7.1A), which is not counted in this figure.

Free account

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.

Free account: 2 full company unlocks every month, no card.

Unlock ADX free See plans

Pending proposed issues

1 proposed issue pending — Appendix 3B lodged, securities not yet issued. New shares from these issues are not in the counts above until quoted.

Paid plan

1 pending issue on record — Pending issue detail

Size, price, fees, broker and placement-capacity usage for each pending issue.

Unlocks on a paid plan

See plans

Options & convertible securities

19.5%

Options & rights overhang · of current shares

0.0%

In-the-money supply · at current price

211.2M

Potential new shares

July 2027

Nearest expiry

What a price move would switch on

At $0.017 today, 0 securities are in the money (0.0% of shares on issue). No more priced supply until 3× today’s price, which takes it to 206.1M (19.0% 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.
5.1M (2.4% of the supply above) states a nil exercise price — nothing is paid to convert it, so no share price switches it on or off. It is the flat band, and it is not part of the in-the-money figure.

Code	Security	Type	Exercise price	Expiry	On issue	Source
ADXAAC	Options	Price-triggered	Nil	31 July 2027	300k	Filing
ADXAAE	Options	Price-triggered	Nil	31 Oct 2027	219k	Filing
ADXAAP	Options	Price-triggered	$0.039	17 Jan 2028	86.6M	Filing
ADXAAG	Options	Price-triggered	Nil	31 Jan 2028	131k	Filing
ADXAAR	Options	Price-triggered	$0.041	20 May 2028	105.6M	Filing
ADXAAI	Options	Price-triggered	Nil	31 May 2028	89k	Filing
ADXAA	Options	Price-triggered	$0.045	31 May 2028	13.9M	Filing
ADXAAJ	Options	Price-triggered	Nil	31 July 2028	197k	Filing
ADXAAK	Options	Price-triggered	Nil	31 Oct 2028	167k	Filing
ADXAAL	Options	Price-triggered	Nil	31 Jan 2029	213k	Filing
ADXAAM	Options	Price-triggered	Nil	31 May 2029	671k	Filing
ADXAAN	Options	Price-triggered	Nil	31 July 2029	640k	Filing
ADXAAO	Options	Price-triggered	Nil	31 Oct 2029	700k	Filing
ADXAAQ	Options	Price-triggered	Nil	31 Jan 2030	521k	Filing
ADXAAS	Options	Price-triggered	Nil	31 May 2030	478k	Filing
ADXAAT	Options	Price-triggered	Nil	31 July 2030	735k	Filing

“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. For what expires soon across other listed companies, see the options expiry calendar.

3 classes ceased in the last 12 months and are not counted above

The company’s own Appendix 2A restates each of these at zero. They are excluded from the overhang, the in-the-money supply and every figure on this page. Each count is the filing’s own count of securities in the class, not a share count — a 2A never states what one security converts into.

ADXAWPrice-triggered380k securities → 031 July 2026 Appendix 2A
ADXAXPrice-triggered284k securities → 031 July 2026 Appendix 2A
ADXAYPrice-triggered276k securities → 031 July 2026 Appendix 2A

Free account

16 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.

Free account: 2 full company unlocks every month, no card.

Unlock ADX free See plans

Director dealings

Date	Director	Type	Shares	Options	Other	Value	Source
10 Sept 2026	Edouard Etienvre	Buy placement	1.5M	1.5M	—	$30k	3Y notice
10 Sept 2026	Ian Tchacos	Other placement	5.0M	—	—	$100k	3Y notice
10 Sept 2026	Paul Fink	Other placement	750k	750k	—	$15k	3Y notice