Companies / SPX

SPENDA LIMITED

ASX:SPXSoftware & Services
1.21B shares on issueASX (delayed) · snapshot 11 Sept 20262.16B fully diluted+78.9% if every option and right converts$0.003price · delayed$3.0Mmarket cap · indicative

Today’s holders own 55.9% of what they think they own, once every option and right converts.

Very high
Dilution risk

Runway under 2 quarters; share count grew 459% in 24 months; 4 cash raises in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway1.3 quarters of funding
Share-count growth (24m)458.8%
Raise cadence (24m)4 cash raises
Options & rights overhang78.9% of shares
In-the-money supplyno data — an exercise price is on record for a minority of the supply
Pending proposed issuesnone

SPENDA LIMITED underwent an approximately 1-for-20 share consolidation in May 2026. Its ordinary share count, adjusted for consolidation, increased 458.8% between January 2024 and August 2026, reaching 1.21B shares. In the past 24 months, the company completed four capital raises totalling A$7.9M, with the most recent being an A$3.6M Entitlement Offer in May 2026. Options and rights on issue represent a potential 953M new shares, equivalent to 78.9% of the current share count, with the nearest expiry in November 2026. As of June 2026, SPENDA LIMITED reported A$7.9M in available cash, covering approximately 1.3 quarters of operations. No proposed securities issues are currently pending.

AI-generated summary of this page's cited filings · updated 10 Sept 2026
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78.9%
Options & rights overhang
—
In-the-money supply · most strikes not on record
3
Raises · last 12 months
1.3 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-20 consolidation (11 May 2026). Latest count 1.21B per ASX (delayed) (snapshot 11 Sept 2026).
0.25B0.50B0.75B1.00B1.25BDec 24Oct 25Sept 261-for-20 consolidationCash raise · 28 May 2026Cash raise · 3 Mar 2026Cash raise · 4 Dec 2025Cash raise · 19 Aug 20251.21B

Cash runway

1.3 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
Funds operations to about Oct 2026 at the reported spend rate.
$7.8M 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: $2.6M cash at quarter end (item 4.6), 2.0 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
20 Aug 20262A · quoted issueSPX : ORDINARY FULLY PAID1.21BAppendix 2A
13 July 20262A · quoted issueSPX : ORDINARY FULLY PAID1.19BAppendix 2A
15 June 20262A · quoted issueSPX : ORDINARY FULLY PAID767.7MAppendix 2A
8 June 20263G · unquotedSPX : ORDINARY FULLY PAID305.2MAppendix 3G
5 June 20263G · unquotedSPX : ORDINARY FULLY PAID305.2MAppendix 3G
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44 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

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

every 3.1 monthsaverage gap between raises
3.5 monthssince the most recent
19 Aug 2025 – 28 May 2026first to most recent in this window
$3.6M
Entitlement Offer (Accelerated Renounceable Entitlement Offer)
28 May 2026 COMPLETE
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8 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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13 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.

No estimate — a share consolidation inside the last 12 months puts the filings and the share count in different units.
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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

78.9%
Options & rights overhang · of current shares
—
In-the-money supply · most strikes not on record
953.4M
Potential new shares
Nov 2026
Nearest expiry
What this supply is, and what converts it
  • Price-triggered952.4M · 78.8% of shares
    Options and warrants — they convert when the share price clears their exercise price.
    At least 903.0M of it states no exercise price — that much cannot be called in or out of the money.
  • Converts on terms975k · 0.1% of shares
    Convertibles with no exercise price — they convert on their own terms, so they are shares in all but name.

Exercise price on record: 49.5M priced, 903.9M 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
476.7M953.4M$0.0025 now0.25× today ($0.0006) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.0013) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.0019) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.0025) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.0031) — 0 of the priced supply in the money, 0.0% of shares on issue1.5× today ($0.0037) — 0 of the priced supply in the money, 0.0% of shares on issue2× today ($0.0050) — 0 of the priced supply in the money, 0.0% of shares on issue3× today ($0.0075) — 0 of the priced supply in the money, 0.0% of shares on issue5× today ($0.0125) — 0 of the priced supply in the money, 0.0% of shares on issue10× today ($0.0250) — 0 of the priced supply in the money, 0.0% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

An exercise price is on record for only 5.2% of this supply, so what is in the money today is not a measurement — the tile above reads “—” for that reason. Of the priced supply, 0 is in the money at $0.0025 today. No price up to ten times today’s switches on any more priced supply.

  • 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.
  • 903.9M (94.8% 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.
  • 49.5M more carries an exercise price above ten times today’s — off the right of this axis, and in every total on this page.
CodeSecurityTypeExercise priceExpiryOn issueSource
SPXAROptionsPrice-triggered$0.3515 Nov 20261.8MFiling
SPXATOptionsPrice-triggered$0.8015 Nov 2026918kFiling
SPXASOptionsPrice-triggered$1.1015 Nov 2026918kFiling
SPXANOptionsPrice-triggered$0.3515 May 20272.0MFiling
SPXAOOptionsPrice-triggered$0.4016 May 20271.2MFiling
SPXALOptionsPrice-triggered$0.3515 June 202710.5MFiling
SPXADOptionsPrice-triggered$0.3530 Sept 202710.9MFiling
SPXAPOptionsPrice-triggered$0.903 Nov 2027188kFiling
SPXAQOptionsPrice-triggered$2.003 Nov 20275.0MFiling
SPXAVOptionsPrice-triggered$0.1031 Jan 202814.0MFiling
SPXAFOptionsPrice-triggered$0.3519 Aug 20281.0MFiling
SPXAWOptionsPrice-triggered$0.1431 Jan 20301.0MFiling
SPXOBOptionsPrice-triggered—30 June 2031903.0MFiling
SPXAGNotesConverts on terms——975kFiling

“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.

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14 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
2 June 2026Irshad MullaBuy placement2.5M——$100k3Y notice
2 June 2026Karim RazakBuy placement7.8M——$310k3Y notice
2 June 2026Peter RichardsBuy placement250k1.3M—$10k3Y notice
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7 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

31 Aug 2026Appendix 4G & Corporate Governance Statement
31 Aug 2026$PAppendix 4E & Annual Report
20 Aug 2026Application for quotation of securities - SPX
30 July 2026$PQuarterly Activities/Appendix 4C Cash Flow Report
21 July 2026$PSpenda FY26 R&D Estimate to Exceed $1.75M
15 July 2026Becoming a substantial holder from NAB
13 July 2026$PSecurity Class Reinstatement to Quotation- SPXOB
13 July 2026Quoted Options SPXOB - Top 20 and Distribution Schedule
13 July 2026Application for quotation of securities - SPX
9 July 2026Completion of Retail Entitlement Offer
8 July 2026Initial Director's Interest Notice
8 July 2026Final Director's Interest Notice
6 July 2026Appointment / Resignation of Chair
5 July 2026$PCapricorn Accepts Entitlement & Increase Holding to 19.99%
1 July 2026$PSecurity Class Suspension (ASX Code- SPXOB)
23 June 2026$PSpenda Accelerates Strategic Turnaround
23 June 2026Extension of Retail Entitlement Offer Closing Date
22 June 2026Final Director's Interest Notice
22 June 2026Initial Director's Interest Notice
21 June 2026Appointment / Resignation of Non-Executive Director

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