BrainChip Holdings (ASX:BRN) and LDA Group, an affiliate of alternative investment firm LDA Capital, amended their put option agreement to increase the total commitment amount to AU$140 million by AU$37 million, according to a Tuesday filing with the Australian bourse.
The amendment extends the funding access until June 2026 and adds a minimum drawdown amount of AU$20 million, to be drawn by June 30, 2026, the filing said.
Under the new terms, the technology company will issue 40 million collateral shares by June 2025.
The capital will support the development of the company's Akida 2.0 products and expansion of the temporal event-based neural networks model portfolio, the filing said.
Shares of the company fell nearly 13% in recent Tuesday trade.
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