Careteq Limited (ASX: CTQ) (Careteq or the Company), an emerging leader in assisted living technology, is pleased to announce a capital raising of approximately $2.47 million (before costs) via an accelerated non-renounceable pro-rata entitlement offer.
Highlights
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The Company is seeking to raise approximately $2.47 million (before costs) via an accelerated non-renounceable pro-rata entitlement offer, at a ratio of 4 new fully paid ordinary shares in the Company (Shares and such Shares, New Shares) for every 5 existing Shares at an issue price of $0.025 per New Share (the Offer).
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The Offer is managed by Sequoia Corporate Finance Pty Ltd (Lead Manager) which has procured advance commitments for any potential shortfall under the Offer.
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The Company is forecasting its 55% owed Embedded Health Solutions (EHS) business will generate $1.5 million in EBITDA in FY24.
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CARETEQ is targeting 15,000+ recuring Sofihub subscribers in FY24, resulting in a cash flow breakeven run-rate (on an operating basis).
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Following completion of the Offer, the Company’s cash position will be $4.0 million
For more information, download the attached PDF.
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