Careteq Limited (ASX: CTQ) (Careteq or the Company), an emerging leader in assisted living technology, is pleased to announce that it has closed the institutional component (Institutional Entitlement Offer) of its 4 for 5 accelerated non-renounceable pro-rata entitlement offer (Offer) of new fully paid ordinary shares in Careteq (New Shares). The Company’s shares will resume trading today (Thursday, 27 July 2023) on an ex-entitlement basis.
Highlights
-- Careteq has successfully procured advance commitments for the maximum Offer amount from sophisticated and professional investors.
-- The Company is now comfortably funded through to its targeted 15,000+ Sofihub subscribers, expected to be achieved in FY24 and resulting in a cash flow breakeven run-rate for the Company (on an operating basis).
-- The retail component of the Entitlement Offer opens on Wednesday, 2 August 2023 (Retail Entitlement Offer).
-- Following completion of the Offer, the Company’s cash position will be $4.0 million.
-- The Offer is managed by Sequoia Corporate Finance Pty Ltd (Lead Manager).
For more information, download the attached PDF.
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