CONNEQT Offers Shares at $0.022 in $0.5 Million Retail Raise

Details of the Share Purchase Plan

CONNEQT Health Limited (ASX:CQT) has opened a Share Purchase Plan (SPP) offering eligible shareholders in Australia and New Zealand the chance to buy new shares up to $30,000 each at $0.022 per share. This price represents a 24.3% discount to the company’s 15-day volume weighted average price prior to the announcement, underscoring a clear incentive for retail investors to participate. The company is targeting to raise $0.5 million through the SPP, with the flexibility to close early, scale back applications, or accept more or less than the target amount depending on demand.

The offer period runs from 30 June to 24 July 2026, with shares expected to be allotted on 31 July and commence trading on the ASX by 3 August 2026. Eligible shareholders are those registered by 7pm Sydney time on 18 June 2026 with addresses in Australia or New Zealand.

Strategic Use of Funds

Funds raised from the SPP, alongside a recent $5.5 million placement, will primarily support CONNEQT’s push to accelerate product inventory and sales growth, intellectual property and new product development, marketing, and enterprise expansion initiatives. The company specialises in medical and home health devices and digital solutions for vascular health disorders, leveraging its proprietary SphygmoCor® vascular biomarker technology. This capital injection aims to underpin growth in home health, remote patient monitoring, and decentralized clinical trials markets.

Executive Chairman Niall Cairns emphasised the opportunity for retail shareholders to join the company’s next growth phase at the same price as the recent placement, which was priced at $0.022 per share. The SPP is non-renounceable, meaning shareholders cannot transfer their rights to others, and participation is capped at $30,000 per shareholder within a 12-month period.

Participation Mechanics and Conditions

Eligible shareholders can apply for parcels ranging from $1,000 to $30,000 worth of shares in set increments. The company retains discretion to scale back applications on a pro-rata basis relative to holdings or application size if demand exceeds the $0.5 million target. Any scale back will result in a refund of excess application money without interest.

Participation is limited to shareholders in Australia and New Zealand, excluding U.S. persons due to regulatory restrictions. The SPP is not underwritten, although the company reserves the right to arrange underwriting subsequently depending on market appetite and regulatory considerations.

Applicants can apply via BPAY or electronic funds transfer, with detailed instructions and application forms accessible online through the company’s share registry, Automic Pty Ltd. The company encourages shareholders to receive communications electronically to reduce costs and environmental impact.

Timing and Next Steps for Investors

The SPP timetable is clear: applications open 30 June and close 24 July 2026, with demand and any scale back to be announced by 30 July. Share allotment and ASX quotation follow shortly after. Investors should consider the market price risk, as the share price may fluctuate between the offer and issue dates, potentially affecting the number of shares acquired for the amount invested.

CONNEQT’s recent capital raising efforts, including a $5.5 million placement announced earlier in June, reflect its ongoing strategy to bolster cash reserves to fuel growth in a competitive medical technology sector. The SPP provides a retail shareholder-friendly avenue to participate in this growth at a discounted price.