PainChek ASX trading halt details

PainChek (ASX:PCK) has announced a trading halt on its securities starting 21 November 2024. This halt, requested by the company, is pending an announcement about a capital raise. Trading will resume upon the announcement or on 25 November 2024, whichever is earlier, to ensure informed trading.

Summary and outlook on PainChek's announcement

PainChek (ASX:PCK) has initiated a trading halt due to an impending capital raise announcement. The halt ensures investors have complete information before trading. It will last until the announcement or 25 November 2024, whichever comes first. PainChek, known for its AI-based pain assessment app, aims to strengthen its financial position and enhance its market presence. The company continues to expand its regulatory-approved app, which has conducted over 7 million assessments and is under FDA review in the US. With a strong focus on reducing bias in pain assessments, PainChek is also expanding into home care services.

Executive commentary on trading halt

The trading halt is necessary to prevent trading on an uninformed basis. It will remain in place until the earlier of the release of the announcement or commencement of normal trading on 25 November 2024.