Qoria Receives $10M Aura Facility as Merger Workstreams Advance to July Vote
Qoria has secured a $10 million unsecured working capital facility from Aura as the Qoria Aura merger update confirms a July 2026 shareholder vote and a target of positive free cash flow by December 2026.
Key Takeaways
- Qoria secured a $10 million unsecured working capital facility from Aura, funded on 15 April 2026, to cover transaction costs and bridge liquidity through to merger completion.
- The scheme shareholder meeting has been pushed to July 2026, with transaction completion and Qoria reaching positive free cash flow both targeted for the same month.
- The facility carries a 15% per annum PIK interest rate with no cash payments required during the term, preserving Qoria's operational cash flow ahead of the vote.
- Conversion rights only activate if the merger fails to complete, with a $0.30 price floor limiting dilution to approximately 54 million shares or 3.9% of issued capital.
- The Qoria Board unanimously recommends shareholders vote in favour of the scheme, with each Director committing to vote their own shares accordingly, subject to the Independent Expert's positive conclusion.
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