Join our daily newsletter At The Bell to receive exclusive market insights
- Intelicare (ICR) is looking to raise $2.99 million through an entitlement offer opening tomorrow, Wednesday, November 24
- Shareholders are invited to participate o the basis of one fully paid ordinary share for every 2.25 shares held last Friday
- Funds raised would support sales and marketing efforts and growth outside of Australia
- Shares in Intelicare were up 7.95 per cent today to 9.5 cents each
Intelicare (ICR) is out to raise nearly $3 million through an entitlement offer opening tomorrow, Wednesday, November 24.
The software-as-a-service company launched the $2.99 million offer, with shares issued at 8 cents each.
Intelicare provides in-home sensor technology designed to provide insights direct to phone which can help detect and prevent falls and other health risks.
Intelicare’s CEO and Managing Director Jason Waller said the funds would support sales and marketing efforts and growth outside of Australia.
“I think that’s the natural progression of the company and we noted in our offer booklet that we established a USA subsidiary,” Mr Waller said.
“The overseas market — the US — is very attractive due to its sheer size.
“I’m cautious in the sense that there’s a graveyard of start-ups in the US if you spend too much money too soon, so we want to make sure we get it right in Australia first before expanding too hard in the US . . . but it’s definitely on our agenda.”
The company is working with aged care services and recently announced a deal with MercyCare. It’s also getting more traction in the disability sector and is building its register of individual customers.
Shares in Intelicare were up 7.95 per cent today to 9.5 cents each.
