HITIQ Raises $900K in Placement, Directors’ Stake Awaits Approval
HITIQ Limited has successfully completed the initial tranche of a $900,000 placement, issuing over 40 million shares with attached options, while director participation awaits shareholder approval.
- Initial placement raised $900,000 at $0.022 per share
- 40,909,092 ordinary shares and 20,454,544 options issued
- Directors Tony Toohey and James Barrie subscribed $25,000 subject to approval
- Options exercisable at $0.022, expiring December 2028
- General meeting scheduled for January 2026 to approve director participation
Capital Raise Completes Initial Tranche
HITIQ Limited (ASX – HIQ), a pioneer in concussion management technology, has announced the completion of the initial tranche of its recent placement, successfully raising $900,000 before costs. The company issued 40,909,092 ordinary shares at an issue price of $0.022 each, consistent with the terms of its earlier rights issue in 2025.
Alongside the shares, HITIQ allotted 20,454,544 new listed options, exercisable at the same price of $0.022 and expiring on 30 December 2028. These options provide investors with an extended opportunity to participate in the company’s future growth, reflecting confidence in HITIQ’s long-term prospects.
Director Participation Pending Shareholder Approval
Directors Tony Toohey and James Barrie have also subscribed for $25,000 worth of shares under the placement. However, their participation remains subject to shareholder approval at a general meeting scheduled for January 2026. This step underscores the company’s commitment to transparency and governance, ensuring that related-party transactions receive appropriate scrutiny.
The outcome of this meeting will be closely watched by investors, as director involvement often signals confidence in the company’s strategy and outlook. Should the approval be granted, it will further solidify the directors’ alignment with shareholder interests.
Strategic Implications and Market Context
HITIQ’s capital raising effort comes at a time when concussion management technology is gaining increased attention in both elite and community sports. The company’s PROTEQT™ system, an instrumented mouthguard designed to enhance athlete safety through impact detection and risk assessment, positions HITIQ well within this growing market.
While the announcement does not specify the precise use of proceeds, the fresh capital is likely to support ongoing product development, marketing efforts, and potential expansion initiatives. Investors will be keen to see how HITIQ leverages this funding to accelerate growth and maintain its competitive edge.
Overall, the placement and option issuance reflect a strategic move to strengthen the company’s financial position while offering investors additional upside potential through the attached options.
Bottom Line?
HITIQ’s successful placement sets the stage for growth, but director approval and deployment of funds will be key to watch.
Questions in the middle?
- Will shareholders approve the directors’ participation at the January meeting?
- How does HITIQ plan to allocate the proceeds from this placement?
- What impact will the new options have on future share dilution and investor returns?
