Scalare Partners Secures $1.57M Working Capital via Convertible Note Issue

Scalare Partners Holdings Ltd has secured $1.57 million in working capital through a convertible note issue to Blackstone Mercantile Group Ltd SAC and its nominee NHG Asset Management AG.

The notes, denominated in Australian dollars, were issued at a price of $1 each with 10% annual interest maturing in August 2027.

This is the first instalment of Tranche 2 under a broader funding agreement worth up to $25 million, allowing for staged investments and potential additional tranches of up to $20 million.

The board has deemed this form of convertible financing to be in shareholders' best interests, providing a flexible pathway for future funding while potentially increasing equity issuance as notes convert into ordinary shares.