Highlights

• Control Bionics has received firm commitments to raise A$9.5 million through a placement at A$0.075 per share.

• The company has also launched a non-underwritten Share Purchase Plan targeting up to A$0.5 million.

• Proceeds will support commercial expansion, platform development, clinical research, business development and working capital.

• The placement price represents a 13.8% discount to the last close of A$0.087 on 23 June 2026 and a 14.5% discount to the five-day VWAP.

• Eligible shareholders in Australia and New Zealand can apply for up to A$30,000 of new shares under the Share Purchase Plan.

• If Tranche 2 is approved and the Share Purchase Plan is completed in full, Control Bionics expects to have approximately 545.3 million shares on issue.

Control Bionics Limited (ASX:CBL) has announced a A$10.0 million capital raising package to support the next phase of its commercialisation strategy across assistive communication, rehabilitation, sports performance and broader neurotechnology markets. The raising includes firm commitments for a A$9.5 million placement and the launch of a A$0.5 million Share Purchase Plan for eligible shareholders.

Control Bionics shares traded at AUD 0.085 during the afternoon session on 25 June 2026, down AUD 0.002 for the day. Despite the decline in Thursday trade, the stock remains up 183.33% over the past 12 months.

About Control Bionics

Control Bionics is a neurotechnology company commercialising non-invasive neural-signal technology across multiple markets. The company’s platform captures physiological signals from the body, including electrical activity generated by muscles, and converts those signals into measurable outputs that can support communication, rehabilitation, research, data applications and human-computer interaction.

The company’s technology has historically been used in assistive communication, particularly for people with significant physical limitations. Control Bionics is now extending the same underlying platform into additional markets, including sports performance, rehabilitation, medical research, platform partnerships and broader interface applications.

Control Bionics’ technology does not require surgery or implantation. The company holds regulatory clearances in the United States, Australia and Europe and is also a registered National Disability Insurance Scheme provider in Australia. Its operations span North America, Australia, Europe and Japan.

Placement Secures A$9.5 Million

Control Bionics has received firm commitments to raise approximately A$9.5 million before costs through the issue of around 126.7 million new ordinary shares.

The placement has been priced at A$0.075 per new share. The company said the new shares will rank equally with its existing fully paid ordinary shares.

The placement was supported by existing and new institutional, sophisticated and professional investors. Bell Potter Securities Limited and Unified Capital Partners Pty Ltd are acting as joint lead managers and bookrunners to the placement.

The joint lead managers will receive a fee equal to 6% of the amount subscribed, excluding funds subscribed by directors and the two substantial shareholders, Nightingale Partners Pty Limited and Phoenix Development Fund Limited.

Two-Tranche Structure Requires Shareholder Approval

The placement will be completed in two tranches.

Tranche 1 involves the issue of approximately 29.6 million new shares under the company’s existing placement capacity under ASX Listing Rule 7.1. This tranche does not require shareholder approval, with settlement scheduled for 30 June 2026 and normal trading of the new shares expected to begin on 1 July 2026.

Tranche 2 covers approximately 96.7 million new shares and is subject to shareholder approval at a general meeting expected to be held on 6 August 2026. Settlement of Tranche 2 shares is currently scheduled for 11 August 2026, with allotment and normal trading expected on 12 August 2026.

The Tranche 2 component also includes a proposed issue of approximately 4.3 million shares to Control Bionics directors, subject to shareholder approval.

Director Participation Included in Tranche 2

Control Bionics has outlined the proposed director participation in the conditional placement.

Subject to shareholder approval, Chairman Stephen Rix is proposed to receive 2.04 million shares, Chief Executive Officer and Managing Director Jeremy Steele is proposed to receive 1.16 million shares, Nicholas Opie is proposed to receive 400,000 shares, Robert Heard is proposed to receive 333,333 shares and Damian Lismore is proposed to receive 320,000 shares.

Together, the proposed director allocation totals 4,253,333 shares.

A notice of meeting and proxy form will be sent to shareholders separately and lodged with the ASX.

Issue Price Set at Discount to Recent Trading

The placement issue price of A$0.075 per share represents a discount to Control Bionics’ recent market price.

The company said the price is a 13.8% discount to the last closing price of A$0.087 on Tuesday, 23 June 2026. It also represents a 14.5% discount to the five-day volume weighted average price of Control Bionics shares traded on the ASX up to and including 23 June 2026.

The same issue price will apply to shares offered under the Share Purchase Plan.

Share Purchase Plan Opens to Eligible Investors

Control Bionics is also offering eligible shareholders the opportunity to participate in a non-underwritten Share Purchase Plan.

The Share Purchase Plan is intended to raise up to A$0.5 million. Eligible shareholders will be able to apply for up to A$30,000 worth of new shares at A$0.075 per share, free of brokerage and transaction costs.

Eligibility is limited to shareholders with registered addresses in Australia or New Zealand who were recorded as holders of shares at 7:00 pm Sydney time on 24 June 2026.

The Share Purchase Plan is expected to open at 10:00 am Sydney time on 2 July 2026 and close at 5:00 pm Sydney time on 14 July 2026. Results are expected to be announced on 21 July 2026, with new shares issued on the same date and normal trading expected to begin on 22 July 2026.

Control Bionics may scale back applications under the Share Purchase Plan at its discretion.

Funds Directed Toward Commercialisation and Development

Control Bionics has set out how it expects to use the A$10.0 million in proceeds from the placement and Share Purchase Plan.

The company has allocated A$3.5 million toward commercial expansion and capability build-out. A further A$1.5 million is planned for platform and medical technology development, including clinical research.

Another A$1.5 million has been allocated to strategic initiatives and business development opportunities. Operating cash requirements and working capital are expected to use A$2.8 million, while costs of the offer are estimated at A$0.7 million.

This funding mix indicates a focus on commercial growth, product development and maintaining operational flexibility.

Neurotechnology Platform Targets Multiple Markets

Control Bionics’ business is built around a neural-signal platform that can be applied across several commercial areas.

The company’s core patented NeuroNode technology is a wireless wearable device that detects small signals sent from the brain to skeletal muscles. These signals are captured as electromyography output and transmitted wirelessly to a personal computer.

The technology can support speech and computer-controlled functions such as email and texting. It can also be integrated with eye gaze technology, where eye movement controls the cursor and NeuroNode functions like a mouse button.

Control Bionics says its product combines touch, eye and NeuroNode control, allowing users to communicate faster and with reduced fatigue.

NeuroStrip Extends Platform Opportunity

Control Bionics is also commercialising NeuroStrip, a miniaturised wearable electromyography device.

The company said NeuroStrip provides an opportunity to enter markets such as health diagnostics, sports performance and rehabilitation. This forms part of the broader strategy to move the company’s technology beyond assistive communication into larger platform-based applications.

The latest funding is expected to support these commercialisation initiatives and help the company continue developing its medical technology platform.

Management Highlights Global Growth Strategy

Chief Executive Officer and Managing Director Jeremy Steele said the company was encouraged by support from existing and new investors as it scales its global footprint in the neurotechnology market.

Management said the funding strengthens the company’s balance sheet and supports its commercialisation strategy across assistive communication, rehabilitation and sports performance. It also opens opportunities for the platform to work with third parties.

Share Count to Rise After Completion

Control Bionics also disclosed the expected impact of the raising on its issued capital.

Following completion of Tranche 1, the company expects to have approximately 441.9 million shares on issue.

If shareholders approve Tranche 2 and the Share Purchase Plan is completed in full, Control Bionics expects to have approximately 545.3 million shares on issue.

What This Means for Investors

Control Bionics’ latest announcement is focused on funding its commercialisation pathway. The A$10.0 million capital raising package provides new capital for commercial expansion, medical technology development, clinical research, strategic initiatives and working capital.

The placement has already secured firm commitments for A$9.5 million, while existing eligible shareholders are being offered participation through a Share Purchase Plan at the same A$0.075 issue price. Investors will now watch the Share Purchase Plan outcome, the general meeting for Tranche 2 approval and the company’s execution across assistive communication, rehabilitation, sports performance and platform partnership opportunities.

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