K-TIG Limited Completes AU$500,000 Capital Raise Through Convertible Notes

Highlights:

• Successful Capital Raise: K-TIG Limited (ASX: KTG) has completed a AU$500,000 capital raise through convertible notes, aimed at enhancing working capital for salaries and professional services.
• Favorable Terms: The convertible notes, with a face value of AU$1,000 each, automatically convert into ordinary shares at a 20% discount to the next capital raise, maturing in 24 months, subject to shareholder approval.
• Strategic Growth Focus: The funds will be utilized for operational expenses and assessing potential acquisition opportunities, reflecting K-TIG's commitment to expanding its market presence and technological capabilities.

At the time of writing, K-TIG Limited has successfully raised AU$500,000 through a capital raise involving the issuance of convertible notes to a sophisticated investor. This funding initiative aims to bolster the company's working capital, which will be allocated toward salaries, professional services, and exploring potential acquisition opportunities.

Key Terms of the Convertible Notes

The convertible notes, each with a face value of AU$1,000, come with specific terms designed to attract investment while providing flexibility for K-TIG. Notably, these notes will convert automatically into ordinary shares at a 20% discount to the next capital raise, with a maturity period of 24 months from the issue date. Importantly, the conversion is subject to shareholder approval, and the notes are non-redeemable, allowing K-TIG to utilize the funds without immediate repayment pressure.

Strategic Use of Funds

The funds raised through this capital initiative will significantly enhance K-TIG's operational capacity. The company plans to invest in key areas such as personnel expenses and ongoing professional service costs, ensuring that it remains agile in a competitive market. Moreover, the allocation for assessing potential acquisition opportunities indicates K-TIG’s commitment to expanding its technological footprint and market presence.

About K-TIG's Technology

K-TIG is renowned for its innovative welding technology that promises to revolutionize the fabrication industry. With a capability to weld up to 100 times faster than traditional TIG welding, K-TIG's patented process is designed for high-speed precision, addressing various industrial applications, particularly in sectors requiring corrosion-resistant materials.

This successful capital raise positions K-TIG Limited to capitalize on future growth opportunities, paving the way for continued innovation and market leadership in the welding technology sector.

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