Cycliq Group (ASX:CYQ): Receipts Lift 21% as a $1.5 Million Placement Takes Shape

Sonal Goyal

23 October 2026 08:32 PM AEDT

Cycliq Group (ASX:CYQ): Receipts Lift 21% as a $1.5 Million Placement Takes Shape

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Highlights

Cycliq Group Ltd (ASX:CYQ) reported customer receipts of $941k for the September 2026 quarter, up 21%.
A $1.5 million placement of 600,000,000 shares at $0.0025 was announced, with Tranche 1 raising $172,694.
Closing cash was $382,000 and net operating cash outflow was $272,000.

Cycliq Group Ltd (ASX:CYQ) released its Appendix 4C quarterly report for the quarter ended 30 September 2026 on 23 October 2026. Cycliq is an Australian smart safety and sport cycling company that makes the Fly6 and Fly12 light and camera systems. The announcement covers quarterly sales, cash movements and the terms of a placement with attaching options.

Quarterly performance

Customer receipts were $941k, a 21% increase on Q1 FY2026 ($0.78 million). The company linked the result to its new Shopify platform, refinements to marketing and broader operating efficiencies.

Net operating cash outflow was $272,000, which the company attributed to investment in inventory to support sales in November and December. Operating payments included product and manufacturing costs of $597,000, administration and corporate costs of $210,000 and staff costs of $247,000. Closing cash at 30 September 2026 was $382,000, down from $536,000 at the start of the quarter.

The $1.5 million placement

On 15 September 2026, Cycliq announced firm commitments for a placement of 600,000,000 ordinary shares at $0.0025 per share to raise $1.5 million. Subscribers will receive a free attaching option for every two shares, exercisable at A$0.005 and expiring 12 months from issue. Each attaching option that is exercised carries a bonus option exercisable at A$0.01 and expiring two years from the issue of the attaching option, for up to 300,000,000 bonus options in total. The attaching and bonus options are subject to shareholder approval, and Cycliq intends to apply for quotation, failing which they will be issued as unquoted options.

The placement is in two tranches. Tranche 1 comprised 69,077,498 new shares raising $172,694, completed on 25 September 2026. Completion of Tranche 2 is subject to shareholder approval at the AGM scheduled for 5 November 2026. The company chair and a non-executive director committed to participate for $150,000 and $100,000 respectively, subject to approval under ASX Listing Rule 10.11.

Lead manager and director options

CPS Capital Group Pty Ltd is lead manager and will receive a 2% management fee and a 4% placement fee, each plus GST, on funds raised, together with 50,000,000 lead manager options exercisable at $0.005 and expiring in 12 months, each carrying a bonus option exercisable at A$0.01.

Cycliq also proposes to issue 70,000,000 options to directors and the company secretary, exercisable at A$0.005 and expiring in 12 months, at an issue price of $0.00001 per option. The exercise price is a 0.6% premium to the 15-day VWAP to 11 September 2026, and the options vest on issue. The allocation is 20,000,000 options each to three non-executive directors and 10,000,000 to the CFO and company secretary. The full terms will be set out in the Notice of General Meeting.

Funding statement and appointments

Item 8.7 of the Appendix 4C shows estimated funding of negative 1.40 quarters. In its answers, Cycliq said it does not expect the current level of operating cash outflow to continue, citing anticipated revenue from Black Friday and Cyber Monday sales in November 2026, and said it is undertaking the placement to support inventory, AI and product development initiatives, settlement of certain historical legal matters and general working capital. It expects to be able to continue operations based on its cash flow forecast, which takes into account the proposed placement.

Related party payments were approximately $48,000, comprising director services of $34,500, registered office fees of $4,500 and capital raising fees of $9,000. In July 2026, Cycliq appointed a Chief Technology Officer on a consulting basis and a new non-executive director.

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