MINDAX LIMITED
ASX:MDXMaterialsToday’s holders own 95.2% of what they think they own, once every option and right converts.
Share count grew 17% in 24 months; 11 cash raises in 24 months; runway 4–8 quarters
MINDAX LIMITED's ordinary share count grew 16.8% between May 2024 and October 2026, its latest share-count filing, to 2.39B shares. The company raised capital 11 times in the 24-month window for total disclosed proceeds of A$15.7M, most recently a A$250K placement in September 2026. Options and rights on issue could convert into 121M new shares, equal to 5.1% of the current share count, and none are in the money; the nearest expiry falls in November 2026. The company has more than 4 quarters of funding at the recent spend rate. No proposed securities issues are currently pending.
Quick answers · 5
When did MDX last raise capital?
The last capital raise in Mindax's filings is Placement of $250k announced 21 Sept 2026, one of 11 cash raises in 24 months.
How much placement capacity does MDX have left?
About 73% of the 15% placement capacity left, about 27% used in 12 months (estimate). Under ASX Listing Rule 7.1 a company may place up to 15% of its shares in 12 months without shareholder approval.
How much cash does MDX have?
In its quarterly cash report for the quarter ended 30 June 2026, Mindax reported $83k of cash and estimated 0.4 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do MDX's options expire?
Unexercised options and rights equal 5.1% of Mindax's shares on issue; the nearest expiry is Nov 2026.
How much has MDX's share count grown?
Mindax has 2.39B shares on issue as at 28 Oct 2026, up 16.8% over 24 months according to its Appendix 2A filings.
Shares on issue — last 2 years
Cash runway
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 |
|---|---|---|---|---|
| 7 Oct 2026 | 2A · quoted issue | MDX : ORDINARY FULLY PAID | 2.39B | Appendix 2A |
| 22 Sept 2026 | 2A · quoted issue | MDX : ORDINARY FULLY PAID | 2.37B | Appendix 2A |
| 20 July 2026 | 3H · cancellation | MDX : ORDINARY FULLY PAID | 2.36B | Appendix 3H |
| 11 Mar 2026 | 2A · quoted issue | MDX : ORDINARY FULLY PAID | 2.36B | Appendix 2A |
| 11 Feb 2026 | 2A · quoted issue | MDX : ORDINARY FULLY PAID | 2.36B | Appendix 2A |
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.
Capital raises
11 cash raises in the last 24 months · 6 in the last 12 months
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.
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.
Pending proposed issues
Options & convertible securities
At $0.035 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 121.0M (5.1% 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.
| Code | Security | Type | Exercise price | Expiry | On issue | Source |
|---|---|---|---|---|---|---|
| MDXAT | Options | Price-triggered | $0.080 | 30 Nov 2026 | 121.0M | 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.
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 4 Dec 2025 | Benjamin Chow | Other | 6.2M | 14.0M | — | — | 3Y notice |
| 4 Dec 2025 | Biaozhun Zhu | Other | — | 2.0M | — | — | 3Y notice |
| 4 Dec 2025 | Qinglong Zeng | Other | 15.0M | 14.0M | — | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.