InteliCare Holdings Ltd (ASX: $ICR) Announces $2 Million Two Tranche Placement

InteliCare Holdings Ltd (ASX: $ICR) has received firm commitments to raise $2 million via a two-tranche private placement to institutional and sophisticated professional investors. Under Tranche 1, 56,175,162 fully paid ordinary shares will be issued immediately, raising approximately $450k. Tranche 2, subject to shareholder approvals, will involve the issuance of 193,824,838 fully paid ordinary shares and 83,333,333 options, raising the balance of approximately $1.55m. The proceeds will support the Company's growth strategy, allowing for ICR to accelerate deployments for potential new customers in the pipeline and provide working capital to support pilot programs.

Executive Commentary on Placement and Growth Strategy

Daniel Pilbrow, Chief Executive Officer, expressed gratitude for the continued support of the Company by its existing shareholders and welcomed new shareholders. He highlighted that the extra funds from the Placement will be used to further commercial agreements with key groups in the Company's sales pipeline. Pilbrow also expressed excitement for the Company's prospects, citing the recent successful deployment in Hardi Aged Care facilities as validation of ICR's ability to deliver on its B2B business model. He emphasized leveraging the expanding capabilities of their offering to assist aged-care, healthcare, and disability support providers in delivering high-quality care and great outcomes for individuals.

Summary of InteliCare's $2 Million Two Tranche Placement

InteliCare Holdings Ltd (ASX: $ICR) has successfully secured firm commitments to raise $2 million via a two-tranche private placement, with both existing and new institutional and sophisticated professional investors participating. The funds raised will support the Company's growth strategy, enabling ICR to accelerate deployments for potential new customers in the pipeline and provide working capital to support pilot programs. The Placement involves Tranche 1, which will immediately issue 56,175,162 fully paid ordinary shares, and Tranche 2, subject to shareholder approvals, which will involve the issuance of 193,824,838 fully paid ordinary shares and 83,333,333 options. The Company's Chief Executive Officer, Daniel Pilbrow, expressed optimism for the future, citing successful recent deployments as evidence of ICR's ability to deliver on its business model and its potential to meet the increasing market interest in the AI-driven InteliCare platform.