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Fitell Corporation ( (FTEL) ) has provided an update.
On February 10, 2025, Fitell Corporation announced revisions to its registered direct offering, agreeing to sell 796,813 shares and warrants to purchase up to 1,195,220 shares, priced at $5.02 each. The offering, expected to raise about $4 million upfront and potentially $6 million from warrant exercises, aims to fund the development and launch of smart fitness equipment and general corporate purposes, enhancing Fitell’s market position and expanding its technological focus.
More about Fitell Corporation
Fitell Corporation is an online retailer of gym and fitness equipment in Australia, operating through its wholly owned subsidiary, GD Wellness Pty Ltd. It offers products under its proprietary brands Muscle Motion, Rapid Motion, and FleetX, as well as other brand names. The company aims to create a comprehensive fitness and wellness ecosystem powered by technology, having served over 100,000 customers with a significant portion of sales from repeat customers.
YTD Price Performance: -72.12%
Average Trading Volume: 372,082
Technical Sentiment Consensus Rating: Buy
Find detailed analytics on FTEL stock on TipRanks’ Stock Analysis page.
