Companies / PKY

PATHKEY.AI LTD

ASX:PKYSoftware & Services
1.24B shares on issueASX (delayed) · as of 28 July 2026$0.031price · delayed$38.5Mmarket cap · indicative
D
Dilution grade

Share count grew 311% in 24 months; options/rights overhang 48% of shares; runway 4–8 quarters

Cash runway5.7 quarters of funding
Share-count growth (24m)310.6%
Raise cadence (24m)2 cash raises
Options & rights overhang47.8% of shares
In-the-money supply23.8% of shares
Pending proposed issuesopen proposed issue (Appendix 3B)

PATHKEY.AI LTD's ordinary share count grew 310.6% between September 2025 and July 2026, to 1.24B shares. The company raised capital twice in the 24-month window for total disclosed proceeds of A$6.8M, most recently a Placement and Non-Renounceable Rights Issue that raised A$3.4M in November 2025. Options and rights on issue could convert into 594M new shares, equal to 47.8% of the current share count, of which 24% are in the money at the current share price; the nearest expiry is December 2026. At the March 2026 quarter the company reported A$2.6M in available cash, covering 5.7 quarters at its recent spending rate. One proposed securities issue (Appendix 3B) is pending with an expected issue date in July 2026.

AI-generated summary of this page's cited filings · updated 28 July 2026
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47.8%
Max option dilution
23.8%
ITM option dilution
2
Raises · last 12 months
5.7 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 1.24B per ASX (delayed) (28 July 2026).
0.49B0.77B1.04BAug 25Feb 26July 26Cash raise · 27 Nov 2025Cash raise · 24 Nov 2025

Cash runway

5.7 qtrs
More than four quarters of funding at the recent spend rate.
$2.6M available cash at quarter ended 31 Mar 2026 · Runway is computed from Appendix 4C/5B filings and announced raise proceeds.
Paid plan
Cash runway history
Quarterly cash, net spend and cover trend from every Appendix 4C/5B on record up to 31 Mar 2026.
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Issuance timeline

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

DateFormSecurityTotal on issue afterSource
10 July 20262A · quoted issuePKY : ORDINARY FULLY PAID1.24BAppendix 2A
30 June 20262A · quoted issuePKY : ORDINARY FULLY PAID1.17BAppendix 2A
30 June 20262A · quoted issuePKY : ORDINARY FULLY PAID1.19BAppendix 2A
30 June 20262A · quoted issuePKY : ORDINARY FULLY PAID1.18BAppendix 2A
23 June 20262A · quoted issuePKY : ORDINARY FULLY PAID607.7MAppendix 2A
Paid plan
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 · 2 in the last 12 months

$3.4M
Placement and Non-Renounceable Rights Issue
27 Nov 2025 COMPLETE
Paid plan
Full raise history
Issue price, discount, brokers, purpose and tranche detail for every raise on record.
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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
Pending issue detail
Size, price, fees, broker and placement-capacity usage for each pending issue.
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Options & convertible securities

47.8%
Total overhang · of current shares
23.8%
In the money · at current price
594.1M
Potential new shares
Dec 2026
Nearest expiry
Paid plan
Per-line options & expiry cliffs
Each option line — code, strike, expiry, quantity and ITM value — plus the expiry-cliff chart.
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Director dealings

DateDirectorTypeSharesOptionsValueSource
23 June 2026Shannon RobinsonOther8.0M4.0M—3Y notice
9 Feb 2026SHANNON ROBINSONOther—4.0M—3Y notice
4 Feb 2026PAUL NIARDONEOther2.0M2.0M$24k3Y notice
Paid plan
Full dealing history
Every change-of-director's-interest notice on record, with direction and consideration.
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Ownership

Free account
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 July 2026Cleansing Notice
10 July 2026Proposed issue of securities - PKY
10 July 2026Application for quotation of securities - PKY
30 June 2026Cleansing Notice
30 June 2026Application for quotation of securities - PKY
30 June 2026Application for quotation of securities - PKY
30 June 2026Application for quotation of securities - PKY
23 June 2026Cleansing Notice
23 June 2026$PChipforge Presentation
23 June 2026Chipforge Acquisition Complete
23 June 2026Change of Director's Interest Notice
23 June 2026Notification regarding unquoted securities - PKY
23 June 2026Notification regarding unquoted securities - PKY
23 June 2026Notification regarding unquoted securities - PKY
23 June 2026Application for quotation of securities - PKY
23 June 2026Application for quotation of securities - PKY
23 June 2026Application for quotation of securities - PKY
17 June 2026Results of Meeting
15 June 2026$PResponse to ASX Price and Volume Query
12 June 2026Proposed issue of securities - PKY

Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 July 2026.