Enlitic secures commitments for $15M placement

• Enlitic secured binding commitments for a conditional placement to raise approximately $15 million before costs.
• The company's stock rose 20% to $0.006 following the resumption of trading on the Australian Securities Exchange.
• Proceeds will fund ongoing operations through to cashflow break-even and expand enterprise sales for its healthcare software.

Enlitic (ASX:ENL) executed an agreement to raise approximately $15 million through a conditional placement of new fully paid CHESS Depositary Interests to fund operations.

The capital raising follows a two-day trading halt requested by the company on July 1 pending the outcome of the equity offer.

"This capital raising represents a pivotal moment for Enlitic," said Enlitic CEO Michael Sistenich.

The transaction details also include a proposed 10:1 share consolidation and an additional security purchase plan targeting up to approximately $1 million.

The company stated that the transaction is expected to provide an operational runway of over 12 months, and following the announcement the Enlitic share price was up at $0.006.

The funding will primarily support the commercial scale-up of the company's software products that use artificial intelligence to manage medical imaging data.

This capital restructure follows previous commercial progress this year, which included data migration agreements with hospital groups such as Parkland Health and Penn Medicine.