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Cardiex Completes Entitlement Offer, Securing $6.5 Million

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Strong shareholder support bolsters vascular health technology company's financial position.

Cardiex Limited (ASX: CDX), a company focused on increasing longevity through medical technology advancements in vascular health with products including medical devices and digital solutions, has announced the successful completion of its fully underwritten, non-renounceable pro-rata entitlement offer, raising approximately $4.1 million. This, combined with the previously announced Institutional Placement, brings the total funds received and committed to $6.5 million before costs. The company’s suite of products is based on its SphygmoCor vascular biomarker technology.

The Entitlement Offer saw strong support from eligible shareholders, with applications received for approximately 49,389,383 new shares, and an additional 1,717,515 new shares under the Top-Up Offer. This represents a total take-up of approximately 50.3% of the Entitlement Offer. The remaining shares were allocated to the underwriter and sub-underwriters as per the underwriting arrangements.

Directors of Cardiex, through C2 Ventures (jointly owned by Directors Niall Cairns and Craig Cooper), along with other associated entities, participated in the offer, taking up their entitlements totaling 33,753,338 new shares, valued at $1,350,133.08. The Entitlement Offer was fully underwritten by Blackpeak Capital Pty Ltd, who also entered into sub-underwriting agreements with parties including C2 Ventures. These sub-underwriters took up their full entitlements, totaling 50,409,547 new shares, representing a value of $2,016,381.88.

The new shares issued under the Entitlement Offer, including the underwritten shortfall shares, will be issued on Friday, 27 June 2025, and will rank equally with existing ordinary shares. The issuance of 18,409,580 shares to C2V, resulting from C2V’s participation in tranche 2, remains subject to shareholder approval under ASX Listing Rule 10.11 and will be issued at a later date. Blackpeak Capital, Stralis Capital Partners Pty Ltd, and Taylor Collison served as joint-lead managers for the Entitlement Offer.

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