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Fitell Corporation ( (FTEL) ) has issued an update.
On February 7, 2025, Fitell Corporation announced a definitive agreement with an institutional investor for a registered direct offering of approximately 1,992,032 ordinary shares and accompanying warrants, expected to close around February 10, 2025. The deal, anticipated to generate gross proceeds of about $10 million, is intended to fund the development and commercial launch of smart fitness equipment, general corporate purposes, and potential strategic acquisitions.
More about Fitell Corporation
Fitell Corporation, through its wholly owned subsidiary GD Wellness Pty Ltd, operates as an online retailer of gym and fitness equipment in Australia. The company offers products under its proprietary brands such as Muscle Motion, Rapid Motion, and FleetX, as well as other brand names. Fitell aims to create a comprehensive fitness and wellness ecosystem powered by technology.
YTD Price Performance: -34.92%
Average Trading Volume: 335,155
Technical Sentiment Consensus Rating: Buy
See more data about FTEL stock on TipRanks’ Stock Analysis page.
