Companies / SPA

SPACETALK LTD

ASX:SPASoftware & Services
304.0M shares on issueASX (delayed) · snapshot 11 Sept 2026329.2M fully diluted+8.3% if every option and right converts$0.075price · delayed$22.8Mmarket cap · indicative

Today’s holders own 92.3% of what they think they own, once every option and right converts.

Very high
Dilution risk

Runway under 2 quarters; share count grew 537% in 24 months; 6 cash raises in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway1.0 quarters of funding
Share-count growth (24m)537.2%
Raise cadence (24m)6 cash raises
Options & rights overhang8.3% of shares
In-the-money supply0.0% of shares
Pending proposed issuesopen proposed issue (Appendix 3B)

SPACETALK LTD has undergone a share consolidation effective November 2024, at approximately a 1-for-10 ratio. The company's ordinary share count, adjusted for this consolidation, grew 537.2% between September 2024 and August 2026, reaching 304M shares. SPACETALK LTD raised capital six times in the past 24 months, totalling A$27.8M, with the most recent being a A$10.0M placement in July 2026. Options and rights on issue could convert to 25M new shares, representing 8.3% of the current share count, with no options currently in the money; the nearest expiry date is April 2029. As of the June 2026 quarter, the company held A$6.1M in available cash, representing approximately 1.0 quarter of funding. No proposed securities issues are currently pending.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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8.3%
Options & rights overhang
0.0%
In-the-money supply
2
Raises · last 12 months
1.0 qtrs
Cash cover · under 2 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Adjusted for the 1-for-10 consolidation (21 Nov 2024). Latest count 304.0M per ASX (delayed) (snapshot 11 Sept 2026).
100M200M300MDec 24Oct 25Sept 26Cash raise · 31 July 2026Cash raise · 24 Mar 2026Cash raise · 8 Sept 2025Cash raise · 11 July 2025Cash raise · 7 Apr 2025304.0M

Cash runway

1.0 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
The latest quarterly report funded operations to about Sept 2026 — that date has passed, and no later report is on record.
$6.0M 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: $879k cash at quarter end (item 4.6), 0.2 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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12 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
12 Aug 20262A · quoted issueSPA : ORDINARY FULLY PAID304.0MAppendix 2A
4 Aug 20262A · quoted issueSPA : ORDINARY FULLY PAID269.4MAppendix 2A
24 July 20263H · cancellationSPA : ORDINARY FULLY PAID209.8MAppendix 3H
29 June 20262A · quoted issueSPA : ORDINARY FULLY PAID209.8MAppendix 2A
10 June 20263G · unquotedSPA : ORDINARY FULLY PAID204.8MAppendix 3G
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55 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

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

every 4.5 monthsaverage gap between raises
1.4 monthssince the most recent
13 Sept 2024 – 31 July 2026first to most recent in this window
$10.0M
Placement
31 July 2026 ACTIVE
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9 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.

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1 dated event 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 55% of the 15% placement capacity left — about 45% used by Appendix 3B filings in the last 12 months (estimate, as at 2026-09-12). One filing in the window states more under 7.1 than the whole allowance and is not counted, so usage may be higher than this. 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

8.3%
Options & rights overhang · of current shares
0.0%
In-the-money supply · at current price
25.2M
Potential new shares
Apr 2029
Nearest expiry
What this supply is, and what converts it
  • Price-triggered25.0M · 8.2% of shares
    Options and warrants — they convert when the share price clears their exercise price.
    At least 2 of it states no exercise price — that much cannot be called in or out of the money.
  • Condition-triggered185k · 0.1% 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: 25.0M priced, 185k 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
12.6M25.2M$0.075 now0.25× today ($0.019) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.037) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.056) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.075) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.094) — 25.0M of the priced supply in the money, 8.2% of shares on issue1.5× today ($0.112) — 25.0M of the priced supply in the money, 8.2% of shares on issue2× today ($0.150) — 25.0M of the priced supply in the money, 8.2% of shares on issue3× today ($0.225) — 25.0M of the priced supply in the money, 8.2% of shares on issue5× today ($0.375) — 25.0M of the priced supply in the money, 8.2% of shares on issue10× today ($0.750) — 25.0M of the priced supply in the money, 8.2% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.075 today, 0 securities are in the money (0.0% of shares on issue). No more priced supply until 1.25× today’s price, which takes it to 25.0M (8.2% 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.
  • 185k (0.7% 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
SPAABOptionsPrice-triggered$0.0858 Apr 202925.0MFiling
SPAAAAWarrantsPrice-triggered——2Filing
SPAARRightsCondition-triggered——185kFiling 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.

1 class ceased in the last 12 months and is 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.
  • SPAAAConverts on terms4.5M securities → 04 Aug 2026 Appendix 2A
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3 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 Aug 2026Georg Johann ChmielOther incentive993k——$79k3Y notice
3 Aug 2026Hon Michael David RannBuy265k——$21k3Y notice
3 Aug 2026John BirdOther265k——$21k3Y notice
3 Aug 2026Simon CrowtherOther2.3M——$180k3Y notice
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17 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

27 Aug 2026$PFY26 Results Announcement
27 Aug 2026$PFY26 Results Investor Presentation
27 Aug 2026$PAppendix 4E - Preliminary Financial Report
17 Aug 2026Change in substantial holding from Tiga Trading Pty Ltd
17 Aug 2026Change in substantial holding from TEK
13 Aug 2026Notice of General Meeting/Proxy Form
13 Aug 2026Ceasing to be a substantial holder
12 Aug 2026Cleansing Notice
12 Aug 2026Application for quotation of securities - SPA
6 Aug 2026Becoming a substantial holder
5 Aug 2026Change in substantial holding from Tiga Trading Pty Ltd
5 Aug 2026Change in substantial holding from TEK
5 Aug 2026Cleansing Notice
5 Aug 2026Change of Director's Interest Notice - Chmiel
5 Aug 2026Change of Director's Interest Notice - Bird
5 Aug 2026Change of Director's Interest Notice - Rann
5 Aug 2026Change of Director's Interest Notice - Crowther
4 Aug 2026Proposed issue of securities - SPA
4 Aug 2026$PSpacetalk Receives Firm Commitments for $10.0 million
4 Aug 2026Application for quotation of securities - SPA

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