Kuniko Limited announced that it has entered into subscription agreement for the issue of common shares for gross proceeds of AUD 8 million on June 30, 2023. The transaction will include participation from new investor Stellantis N.V. for 19.9% stake in the company. The investor has a right to nominate one director to the company's board.

The completion of the transaction is subject to customary closing conditions, including regulatory approvals.