HITIQ (ASX:HIQ) has raised AU$250,000 through a share placement and secured a AU$1.4 million research and development tax incentive (RDTI) loan facility to accelerate the consumer market commercialization of its concussion management technology, according to a Monday Australian bourse filing.
The company has issued 11.4 million ordinary shares at AU$0.022 each to a sophisticated and professional investor, raising AU$250,000, with the price set at a 7.7% premium to the 15-day volume-weighted average price, per the filing.
The placement terms include 5.7 million attaching options, with one option granted for every two shares issued, exercisable at AU$0.022 and expiring on Dec. 30, 2028, with the placement shares and options expected to be issued on or before Tuesday, the filing said.
Additionally, the company secured a new AU$1.4 million RDTI loan facility from No Bull Health, which is initially unsecured, bears 12% interest over 365 days, and has already had an initial drawdown of AU$480,000, the filing added.
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