Gelteq Limited Secures $3.5 Million Convertible Debt Financing with Institutional Investor

On May 7, 2026, Gelteq Limited entered into a securities purchase agreement with an institutional investor for up to $3.5 million in convertible debt financing through two tranches. The initial tranche of $1.0 million (net of original issue discount) was funded immediately, with the remaining $2.5 million contingent on shareholder approval. The convertible promissory notes carry 7% annual interest and mature in 18 months. Beginning six months after closing, the investor can convert the notes into ordinary shares at a conversion price equal to 93% of the lowest daily VWAP during the preceding five trading days, subject to a $0.50 floor price. The agreement includes trigger events that could increase the outstanding balance by 15% for major events or 5% for minor events, with acceleration provisions for defaults. The company must seek shareholder approval for the second tranche and for any share issuances that exceed Nasdaq listing requirements.