Audeara (ASX:AUA) has entered into a loan agreement with Sturt Capital, according to a Monday filing with the Australian bourse.
The facility, secured against the anticipated research and development rebate for the fiscal year, is capped at AU$296,902 or 80% of the estimated tax incentive, the filing added.
It includes a 1.5% establishment fee and monthly interest of 1.33%, the filing said.
Repayment of the loan is due by Dec. 31, 2025, or within 21 business days after receiving the R&D tax assessment, the filing added.
The loan is expected to support the company's research initiatives and increase its R&D tax incentive claim for fiscal 2025, as per the filing.
Shares of the company slid 2% at market close.
Price (AUD): $0.05, Change: $-0.00100, Percent Change: -1.96%
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