Companies / AYA

ARTRYA LIMITED

ASX:AYAHealth Care Equipment & Services
163.4M shares on issueASX (delayed) · snapshot 11 Sept 2026177.8M fully diluted+8.8% if every option and right converts$3.25price · delayed$531.1Mmarket cap · indicative

Today’s holders own 91.9% of what they think they own, once every option and right converts.

High
Dilution risk

Share count grew 108% in 24 months; 3 cash raises in 24 months; runway 4–8 quarters

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway7.5 quarters of funding
Share-count growth (24m)107.6%
Raise cadence (24m)3 cash raises
Options & rights overhang8.8% of shares
In-the-money supply6.2% of shares
Pending proposed issuesnone

ARTRYA LIMITED's ordinary share count grew 107.6% between April 2024 and September 2026, reaching 163M shares. The company completed three capital raises in the past 24 months for total disclosed proceeds of A$100.0M, with the most recent being a A$80.0M placement in September 2025. Options and rights on issue could convert into 14M new shares, representing 8.8% of the current share count, of which 6% are in the money; the nearest expiry date is January 2027. As of the June 2026 quarter, the company had A$39.7M in available cash, which could cover approximately 7.5 quarters of operations. No proposed securities issues are currently pending.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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8.8%
Options & rights overhang
6.2%
In-the-money supply
0
Raises · last 12 months
7.5 qtrs
Cash cover · over 4 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 163.4M per ASX (delayed) (snapshot 11 Sept 2026).
100M125M150MDec 24Oct 25Sept 26Cash raise · 8 Sept 2025Cash raise · 11 Feb 2025163.4M

Cash runway

7.5 qtrs
More than four quarters of funding at the recent spend rate.
Funds operations to about Apr 2028 at the reported spend rate.
$39.7M 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: $44.0M cash at quarter end (item 4.6), 9.3 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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13 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
8 Sept 20262A · quoted issueAYA : ORDINARY FULLY PAID163.4MAppendix 2A
1 Sept 20262A · quoted issueAYA : ORDINARY FULLY PAID163.4MAppendix 2A
27 Aug 20262A · quoted issueAYA : ORDINARY FULLY PAID163.4MAppendix 2A
25 Aug 20262A · quoted issueAYA : ORDINARY FULLY PAID163.2MAppendix 2A
15 July 20263H · cancellationAYA : ORDINARY FULLY PAID163.0MAppendix 3H
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65 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 · 0 in the last 12 months

every 4.9 monthsaverage gap between raises
12.1 monthssince the most recent
11 Nov 2024 – 8 Sept 2025first to most recent in this window
$80.0M
Placement
8 Sept 2025 COMPLETE
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13 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.

5.8M of option supply could convert within 12 months — 3.6% of shares on issue
5.8M 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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11 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.

Under 1% of the 15% placement capacity left — about 99% 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

8.8%
Options & rights overhang · of current shares
6.2%
In-the-money supply · at current price
14.3M
Potential new shares
Jan 2027
Nearest expiry
What this supply is, and what converts it
  • Price-triggered12.1M · 7.4% of shares
    Options and warrants — they convert when the share price clears their exercise price.
  • Condition-triggered2.2M · 1.4% 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: 12.1M priced (of which 10.1M in the money), 2.2M 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
7.2M14.3M$3.25 now0.25× today ($0.81) — 4.3M of the priced supply in the money, 2.7% of shares on issue0.5× today ($1.63) — 8.2M of the priced supply in the money, 5.0% of shares on issue0.75× today ($2.44) — 8.2M of the priced supply in the money, 5.0% of shares on issue1× today ($3.25) — 10.1M of the priced supply in the money, 6.2% of shares on issue1.25× today ($4.06) — 10.1M of the priced supply in the money, 6.2% of shares on issue1.5× today ($4.88) — 10.1M of the priced supply in the money, 6.2% of shares on issue2× today ($6.50) — 12.1M of the priced supply in the money, 7.4% of shares on issue3× today ($9.75) — 12.1M of the priced supply in the money, 7.4% of shares on issue5× today ($16.25) — 12.1M of the priced supply in the money, 7.4% of shares on issue10× today ($32.50) — 12.1M of the priced supply in the money, 7.4% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $3.25 today, 10.1M securities are in the money (6.2% of shares on issue). At double today’s price it is 12.1M (7.4% 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.
  • 2.2M (15.7% 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
AYAALOptionsPrice-triggered$1.3513 Jan 20271.3MFiling
AYAAMOptionsPrice-triggered$3.0013 Jan 20271.3MFiling
AYAANOptionsPrice-triggered$5.0013 Jan 20271.3MFiling
AYAAABOptionsPrice-triggered$3.0028 Mar 2027650kFiling
AYAAACOptionsPrice-triggered$5.0028 Mar 2027650kFiling
AYAAOOptionsPrice-triggered$1.098 Apr 20272.1MFiling
AYAAADOptionsPrice-triggered$1.501 July 2027500kFiling
AYAAAKOptionsPrice-triggered$0.2121 Nov 20281.6MFiling
AYAAALOptionsPrice-triggered$0.2912 Mar 20291.2MFiling
AYAAAMOptionsPrice-triggered$0.2511 June 20291.2MFiling
AYAAAPOptionsPrice-triggered$0.2630 Sept 2029405kFiling
AYAAAN—Condition-triggered——408kFiling Meeting
AYAAAFPerformance rightsCondition-triggered——1.8MFiling Meeting

“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.

5 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.
  • AYAAAGPrice-triggered325k securities → 015 July 2026 Appendix 2A
  • AYAAAHPrice-triggered325k securities → 015 July 2026 Appendix 2A
  • AYAAAIPrice-triggered325k securities → 015 July 2026 Appendix 2A
  • AYAAAEPrice-triggered2.0M securities → 02 June 2026 Appendix 2A
  • AYAAAOPrice-triggered1.2M securities → 08 Apr 2026 Appendix 2A
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13 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
10 July 2026Bernie RidgewaySell—750k——3Y notice
18 June 2026Bernie RidgewayOther750k750k—$750k3Y notice
11 June 2026Bernie RidgewaySell on-market———$1.4M3Y notice
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4 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

10 Sept 2026Change in substantial holding
8 Sept 2026Application for quotation of securities - AYA
8 Sept 2026Issue of Shares on Exercise of Securities & Cleansing Notice
1 Sept 2026Application for quotation of securities - AYA
1 Sept 2026Issue of Shares on Exercise of Securities & Cleansing Notice
31 Aug 2026$PFY26 Financial Results and Operational Update Presentation
27 Aug 2026Application for quotation of securities - AYA
27 Aug 2026Issue of Shares on Exercise of Securities &Cleansing Notice
25 Aug 2026Application for quotation of securities - AYA
25 Aug 2026Issue of Shares on Exercise of Securities & Cleansing Notice
19 Aug 2026Appointment of Non-Executive Director - Helen Kurincic
19 Aug 2026Appendix 4G
19 Aug 2026Corporate Governance Statement
19 Aug 2026$PAppendix 4E and Annual Report to Shareholders
3 Aug 2026Ceasing to be a substantial holder
28 July 2026$PJune Quarterly Activities Report and Appendix 4C
22 July 2026$PNortheast Georgia Health System goes live with Salix
15 July 2026Notification of cessation of securities - AYA
10 July 2026Change of Director's Interest Notice - B Ridgeway
10 July 2026Notification of cessation of securities - AYA

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