Fitell Corporation ( (FTEL) ) has shared an announcement.
On February 10, 2025, Fitell Corporation announced the closing of its registered direct offering, raising approximately $4.0 million from the issuance of ordinary shares and warrants, with the potential for an additional $6.0 million if the warrants are fully exercised. The net proceeds are intended for the development and commercial launch of smart fitness equipment, general corporate purposes, and possibly acquiring complementary businesses or technologies. This move is expected to bolster Fitell’s market position in the fitness industry, focusing on expanding its technological and product offerings.
More about Fitell Corporation
Fitell Corporation, through its wholly owned subsidiary GD Wellness Pty Ltd, is an online retailer of gym and fitness equipment in Australia, offering both proprietary and other brand names. The company’s mission is to create a technology-driven fitness and wellness ecosystem. It manages three proprietary brands under its Gym Direct brand: Muscle Motion, Rapid Motion, and FleetX, offering over 2,000 stock-keeping units (SKUs).
YTD Price Performance: -72.12%
Average Trading Volume: 372,082
Technical Sentiment Consensus Rating: Buy
For a thorough assessment of FTEL stock, go to TipRanks’ Stock Analysis page.