Careteq Limited (ASX: CTQ), an Australian healthtech company focused on innovative medication management solutions, has announced the completion of a $2.2 million capital raising. The funds were secured through a two-tranche placement to new and existing institutional and sophisticated investors. A total of 440,000,000 new fully paid ordinary shares were issued at a price of $0.005 per share.
The placement is structured in two tranches. The first tranche, raising approximately $193,000, involved the issue of 38,632,636 new shares, utilizing the company’s existing placement capacity under ASX Listing Rule 7.1. The second tranche, conditional on shareholder approval at an Extraordinary General Meeting (EGM) anticipated around 23 April 2026, aims to raise approximately $2.07 million through the issue of 401,367,364 new shares.
Funds raised from the placement will be allocated to project acquisitions, debt repayment, and general working capital purposes. The placement was unbrokered, with AFSL holders to receive a 6% fee plus GST on funds raised. Careteq will seek shareholder approval for the issue of 50,000,000 options to the advisor relating to the company’s capital raise. The proposed options will have an exercise price of $0.015, expiring two years from the date of issue.
The issue price represents a 28.57% discount to the last closing price of Careteq’s shares on 6 March 2026 and a 49.96% discount to the 15-day VWAP of Careteq’s shares. Settlement and quotation for Tranche 1 shares are scheduled for 18 March 2026, while Tranche 2 remains subject to shareholder approval at the EGM.
