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CardieX ( (AU:CQT) ) has provided an update.
CONNEQT Health has raised $3.1 million through an institutional placement of new shares at $0.045 each, representing a discount to its recent trading prices, with strong participation from both new and existing institutional and sophisticated investors. The company’s largest shareholder, C2 Ventures, controlled by directors Craig Cooper and Niall Cairns, has committed $1.2 million of the total, subject to shareholder approval, underscoring insider confidence as CONNEQT deploys the funds into inventory and manufacturing for its CONNEQT Pulse device, marketing and sales initiatives, product development and regulatory costs, and general working capital, aiming to accelerate commercial momentum for its vascular health technology portfolio.
More about CardieX
CONNEQT Health Limited is an Australian-listed medical technology company focused on vascular health, developing medical and home health devices and digital solutions for hypertension, cardiovascular disease and related disorders. Its product suite is built on the company’s proprietary SphygmoCor vascular biomarker technology and targets both clinical and home-use markets to improve longevity through advanced vascular diagnostics and monitoring.
Average Trading Volume: 710,314
Technical Sentiment Signal: Sell
Current Market Cap: A$30.22M
For a thorough assessment of CQT stock, go to TipRanks’ Stock Analysis page.