Fitell prices 796,813 shares at $5.02 in updated registered direct offering

Fitell (FTEL) Corporation has revised certain terms of its previously announced registered direct offering. Pursuant to the revised terms, the Company has agreed to issue and sell an aggregate of 796,813 ordinary shares and an additional investment right to purchase up to 1,195,220 ordinary shares in the form of warrants, at a purchase price of $5.02 per ordinary share and associated warrant. The warrants will have an exercise price of $5.02 per share, will be exercisable immediately upon issuance and will expire three years following the issaunce date. The offering is still expected to close on or about February 10, 2025, subject to the satisfaction of customary closing conditions. Rodman & Renshaw is acting as the exclusive placement agent for the offering.