$1.25m of second instalment received as Scalare Partners funding reaches $3.32m
Scalare Partners Holdings Limited (ASX: SCP) has received $1,250,000 of the $1,500,000 second instalment under its Convertible Note Funding Agreement with Blackstone Mercantile Group Ltd. SAC (“Blackstone”). The receipt occurred on 30 October 2026, and the announcement is dated 2 November 2026.
The remaining $250,000 is expected to be received by the end of the following week. The update follows the Company’s 7 October 2026 announcement.
The Company expects the timing of the second instalment balance to have no material impact on its operations. For investors tracking the convertible note funding, that is the Company’s own assessment of the short delay.
The key figures from the update:
- Second instalment due: $1,500,000
- Received: $1,250,000
- Balance expected: $250,000
- Received to date: $3,321,941 of the $5.0 million commitment
| Instalment item | Amount | Status |
|---|---|---|
| Second instalment due | $1,500,000 | Due |
| Second instalment received | $1,250,000 | Received on 30 October 2026 |
| Second instalment balance | $250,000 | Expected by the end of the following week |
| Total received to date | $3,321,941 | Of the $5.0 million commitment |
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How convertible note funding works for investors
A convertible note is a funding arrangement in which a company receives money now, and that money can later convert into shares at an agreed price. In this case, the conversion price is $1.00, and it is unchanged.
The fixed conversion price of $1.00 was set in the original facility, which also paired the notes with a share consolidation and a bonus option issue to limit the dilutionary effect on existing holders.
Staged instalments give Scalare its funding in tranches, while the conversion terms stay fixed. Investors can therefore see how much has been received at each stage against the overall commitment.
Terms unchanged as funding stays on track
All other terms of the Convertible Note Funding Agreement are unchanged. These include:
- Conversion price of $1.00
- $500,000 payable to Fairfax Partners Inc from each instalment as received
Unchanged terms signal continuity, with the commitment standing at $5.0 million.
Scalare supports early-stage technology founders and also provides direct investment into selected businesses.
Readers interested in how Scalare is commercialising its founder network can read our full explainer on the EquityRoom platform launch, which details the paying customer base, the trial pipeline and management’s guidance on earnings impact.
What happens next for Scalare Partners
The announcement sets out the following events:
- Balance of second instalment, $250,000: expected to be received from Blackstone by the end of the following week.
- Annual General Meeting: to be held on 26 November 2026, as announced on 7 October 2026. Shareholder approval is required for the third instalment.
- Third instalment of a minimum of $1,428,059: remains on track to be received by no later than 30 November 2026, subject to shareholder approval at the Annual General Meeting.
With $3,321,941 received to date, these steps mark the path to the full $5.0 million commitment.
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