IXUP concluded its pro-rata non-renounceable entitlement offer, securing $1.3 million from shareholders.

The offer resulted in a $2.7 million shortfall, partly underwritten by Cygnet Capital for up to $2.9 million, leading to a total raise of $4.1 million before expenses.

Additionally, $2.8 million of $3 million convertible notes were converted into shares.

The conversion of over 90% of convertible note liabilities into equity strengthens the company's balance sheet, providing financial flexibility for rapid sales growth.