DomaCom Limited, listed on the ASX, has announced that it has finalized transaction documents with Bricklet Ltd for a $2.5 million loan and reconfirmed a $2.0 million underwriting commitment for an upcoming Entitlement Offer. In conjunction with these developments, DomaCom is excited to unveil a major Board reorganization aimed at positioning the company for future growth.
Bricklet, a venture within the Lakeba Group, is a business builder focused on FinTech, AI, Cybersecurity, and Proptech innovations. Leveraging Lakeba Group’s strategic investments and a portfolio of strong operating assets, Bricklet is well-positioned to support DomaCom’s initiatives.
The new loan, bearing an interest rate of 13% and maturing on October 31, 2025, extends the Binding Term Sheet announced on May 16, 2024, under which $0.5 million has already been drawn (Existing Loan). Combined with the $1.5 million drawn from the Initial Loan (announced on March 4, 2024), the total drawn facility amounts to $4.5 million. Both the New Loan and Existing Loan will be converted into Ordinary Shares of DomaCom at $0.014 per share, pending compliance with ASX Listing Rules, the Corporations Act, and shareholder approval. This conversion will result in the issuance of 214,285,715 Ordinary Shares.
Instead of issuing the 53,571,429 Unlisted Options previously announced, a Bonus Share will be issued for each share subscribed under the conversion of the New Loan and Existing Loan. Consequently, this will result in an additional 214,285,715 Ordinary Shares. The issuance of Bonus Shares will also require shareholder approval.
DomaCom is also exploring an Entitlement Offer and will release further details once the terms are finalized. Bricklet has reaffirmed its commitment to underwrite $2.0 million of the Entitlement Offer, contingent upon agreement of underwriting terms, definitive agreements, and necessary approvals. This capital raise aims to enhance DomaCom’s development and expansion efforts. DomaCom will also seek readmission to quotation by the ASX, subject to approval.
