Pilot Energy plans to issue 7.4 million share options on ASX under $25M funding deal with LDA Capital

Pilot Energy Limited has notified the Australian Securities Exchange (ASX) of a proposed issue of up to 7,386,062 options to subscribe for fully paid ordinary shares as part of a placement or similar capital-raising structure. According to an Appendix 3B announcement lodged on March 10, 2026, the options are expected to be issued on Wednesday, March 11, 2026.

The filing states that the proposed securities represent a new "class-code" to be confirmed and will allow investors to subscribe for fully paid ordinary shares. The company also confirmed it will apply for ASX quotation of the new securities once they are issued, in line with listing rules.

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The options issuance highlights Pilot Energy’s continued use of equity-linked instruments to strengthen its funding base and provide potential future share capital, which could have implications for existing shareholders through "possible dilution" if exercised, according to TipRanks.

The proposed issuance follows a recently announced A$25 million institutional equity subscription facility with LDA Capital Group, LLC, a US-based institutional investment group. The funding arrangement allows Pilot Energy to draw down capital over a three-year period by exercising put options.

Pilot said the facility is intended to support key initiatives, including the Cliff Head Carbon Storage Project and expanded data centre projects with Kala Data.

The announcement identifies the entity as Pilot Energy Limited (ASX: PGY) and confirms the filing was made on March 10, 2026, with the proposed securities issue classified as “a placement or other type of issue.”