Key Highlights

  • Identitii has lodged a prospectus for a non-renounceable offer of 92 bonus options for every 100 shares held at the record date.
  • Bonus options carry a $0.001 exercise price and can be exercised from 6 May 2027 until 5:00 pm on 7 June 2027.
  • Each bonus option exercised entitles the holder to one share and one piggyback option, which expires on 7 July 2027.
  • The maximum number of bonus options and of piggyback options is 4,435,019 each, and neither class will be quoted.

Identitii Limited (ASX:ID8) lodged a prospectus with ASIC on 23 October 2026 covering two linked offers: a pro-rata non-renounceable offer of loyalty bonus options to shareholders, and a further offer of piggyback options to eligible optionholders. The bonus options are offered at nil consideration at a ratio of 92 for every 100 shares held on the record date.

Terms of the Two Offers

Each bonus option is exercisable at $0.001 from 6 May 2027 until 5:00 pm (AEST) on 7 June 2027. Exercising one bonus option entitles the holder to one new share and one piggyback option. Piggyback options are offered on a one-for-one basis, are also exercisable at $0.001, and expire at 5:00 pm (AEST) on 7 July 2027.

On the current capital structure, the maximum number of bonus options is 4,435,019, with the same maximum for piggyback options, assuming all bonus options are exercised. The company will not apply for official quotation of either class. No application form is needed, and there is no minimum subscription.

The indicative timetable shows an ex date of 28 October 2026, a record date of 29 October 2026 and bonus option issue on 5 November 2026.

Background to the Offers

The prospectus links the offers to a $20 million Convertible Security Funding Agreement announced on 7 July 2026 with The Blackstone Mercantile Group Ltd. SAC, which includes guaranteed funding of $5 million. Convertible notes with a $1.00 face value convert at $0.375 per share for the first $15 million and $0.50 for the remaining $5 million, on a post-consolidation basis. At the prospectus date, $2.6 million had been received and 2,600,000 notes issued, with the investor advising the remaining $2.4 million would arrive before 30 November 2026.

Shareholders approved the offers at a general meeting on 12 August 2026, alongside a 200:1 consolidation. The company has 4,820,673 shares on issue.

Why This Could Matter

The company lists the purposes of the offers as rewarding shareholders for continuing support, helping to partially offset the dilutive effect of converting the notes, and offering greater exposure to potential future success. A further purpose is to remove trading restrictions on shares issued on exercise, because the options are issued with prospectus disclosure.

Little cash is involved. If every bonus and piggyback option is exercised, the company would receive approximately $4,435 on each exercise stage. In that case shares on issue would rise from 4,820,673 to 13,690,711.

Where Things Stand

Identitii has set out a two-stage option program that rewards shareholders through nil-cost bonus options, with piggyback options contingent on exercise, running through to July 2027 and following approvals given in August 2026.