WHITEHAWK LIMITED
ASX:WHKSoftware & ServicesToday’s holders own 77.1% of what they think they own, once every option and right converts.
Runway under 2 quarters; share count grew 128% in 24 months; 5 cash raises in 24 months
WHITEHAWK LIMITED's latest ASX market reading shows 1.40B shares as of October 2026; the filed Appendix 2A share-count series ends earlier, so no growth figure over the full period is available. The company has raised capital five times in the past 24 months for total disclosed proceeds of A$5.2M, most recently a A$1.5M placement in April 2026. Options and rights could convert into 415M new shares, representing 29.7% of current shares, with the nearest expiry in October 2027 and none in the money. At the reported spend rate the reported cash would since have been used up, and no later cash report is on record, so no funding-runway figure applies. No proposed securities issues are pending.
Quick answers · 4
When did WHK last raise capital?
The last capital raise in Whitehawk's filings is Placement of $1.5M announced 15 Apr 2026, one of 5 cash raises in 24 months.
How much placement capacity does WHK have left?
About 97% of the 15% placement capacity left, about 3% 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 WHK have?
In its quarterly cash report for the quarter ended 30 June 2026, Whitehawk reported $483k of cash and estimated 0.6 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do WHK's options expire?
Unexercised options and rights equal 29.7% of Whitehawk's shares on issue; the nearest expiry is Oct 2027.
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 |
|---|---|---|---|---|
| 9 Oct 2026 | 2A · quoted issue | WHK : ORDINARY FULLY PAID | 1.15B | Appendix 2A |
| 8 Oct 2026 | 3G · unquoted | WHK : ORDINARY FULLY PAID | 1.15B | Appendix 3G |
| 8 Oct 2026 | 2A · quoted issue | WHK : ORDINARY FULLY PAID | 1.40B | Appendix 2A |
| 28 Aug 2026 | 2A · quoted issue | WHK : ORDINARY FULLY PAID | 1.15B | Appendix 2A |
| 5 June 2026 | 2A · quoted issue | WHK : ORDINARY FULLY PAID | 1.15B | Appendix 2A |
Each filing states the count for the security it names, as at its own reference date and in the units of that filing — so the newest row (1.15B) need not equal the current count above (1.40B).
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
5 cash raises in the last 24 months · 1 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
- Price-triggered351.0M · 25.1% of sharesOptions and warrants — they convert when the share price clears their exercise price.At least 308.5M of it states no exercise price — that much cannot be called in or out of the money.
- Condition-triggered64.0M · 4.6% of sharesPerformance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.
Exercise price on record: 42.5M priced, 372.5M 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.
An exercise price is on record for only 10.2% 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 $0.0035 today. No more priced supply until 10× today’s price, which takes it to 42.5M (3.0% 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.
- 372.5M (89.8% 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.
| Code | Security | Type | Exercise price | Expiry | On issue | Source |
|---|---|---|---|---|---|---|
| WHKAS | Options | Price-triggered | $0.022 | 17 Oct 2027 | 12.5M | Filing |
| WHKAT | — | Condition-triggered | — | 6 Mar 2028 | 30.0M | Filing Meeting |
| WHKOA | Options | Price-triggered, no exercise price stated | — | 24 Apr 2028 | 163.8M | Filing |
| WHKAU | Options | Price-triggered | $0.020 | 24 Apr 2029 | 30.0M | Filing |
| WHKOB | Options | Price-triggered, no exercise price stated | — | 31 July 2029 | 144.6M | Filing |
| WHKAI | Performance rights | Condition-triggered | — | — | 9.0M | Filing Meeting |
| WHKAQ | Rights | Condition-triggered | — | — | 25.0M | Filing 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. For what expires soon across other listed companies, see the options expiry calendar.
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.
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 8 Oct 2026 | Giuseppe Porcelli | Other | 250.0M | — | — | — | 3Y notice |
| 5 June 2026 | Giuseppe Porcelli | Other incentive | 15.0M | — | — | — | 3Y notice |
| 2 Feb 2026 | Melissa King | Other incentive | 237k | — | — | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.