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PAINCHEK LTD — Capital/Financing Update 2024
Dec 1, 2024
65534_rns_2024-12-01_c01cabdc-7c76-443c-8f3d-97ff117c0105.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT 2 DECEMBER 2024
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PainChek Entitlement Offer Open
PainChek Ltd (ASX: PCK) (“ PainChek ”), developer of the world’s first smart phone-based pain assessment and monitoring application, is pleased to announce that the PainChek Entitlement Offer opens today (being, Monday 2 December 2024) pursuant to the prospectus lodged with ASX and ASIC on 25 November 2024 ( Prospectus ). The Entitlement Offer is expected to close on Thursday, 12 December 2024.
Eligible Shareholders will have the opportunity to participate in a fully underwritten non-renounceable prorata entitlement offer of 1 new fully paid ordinary share ( New Share ) for every 8 existing shares held on the Record Date, at an issue price of $0.025 per share (" Issue Price "), together with 1 free attaching new option (having an exercise price of $0.05, expiring 12 months from their date of issue) for every New Share issued ( New Option ), to raise approximately $5.1m (together the " Entitlement Offer ") on the terms described in the Prospectus.
The Entitlement Offer is being fully underwritten by Canaccord Genuity (Australia) Limited (AFSL 234 666) ( Underwriter ).
PainChek confirms that Eligible Shareholders who have nominated to received documents electronically have been sent an email providing access to the Prospectus and personalised entitlement and acceptance form by electronic means. For all other Eligible Shareholders, a letter will be despatched notifying them of the Entitlement Offer and providing a copy of the Prospectus and their personalised entitlement and acceptance form.
In addition, Ineligible Shareholders have been sent a letter notifying them of their ineligibility to participate in the Entitlement Offer. Ineligible Shareholders are those holders with a registered address outside of Australia or New Zealand on the Record Date (being 7.00pm on Thursday, 28 November 2024).
Details of the Entitlement Offer are contained in the Prospectus. The Prospectus can be accessed from the ASX website at www.asx.com.au/markets/company/pck.
Indicative Timetable
| Key event | Date |
|---|---|
| Announcement of the Entitlement Offer Prospectus lodged |
25 November 2024 |
| PCK Shares quoted on an "Ex" basis | 27 November 2024 |
| Record Date for eligibility in the Entitlement Offer | 7pm (Sydney time) on 28 November 2024 |
| Prospectus and letter despatched to Eligible Shareholders | 2 December 2024 |
| Entitlement Offer opens | 8.30am (Sydney time), 2 December 2024 |
| Entitlement Offer closes ("Closing Date") | 5pm (Sydney time) on 12 December 2024 |
| Securities quoted on a deferred settlement basis (market open) | 13 December 2024 |
| Announcement of results of Entitlement Offer and Shortfall | 16 December 2024 |
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| Key event | Date |
|---|---|
| Issue and allotment of New Shares and New Options under the Entitlement Offer ("Issue Date") |
19 December 2024 |
| Despatch of holding statements for New Shares and New Options |
19 December 2024 |
| New Shares comment trading on ASX on a normal settlement basis expected General Meeting to approve issue of Underwriter Options Anticipated issue date of Underwriter Options (if approved by shareholders) |
20 December 2024 Target date of 19 February 2025 Within 5 Business Days of the General Meeting |
All dates and times are indicative only and are subject to change. Unless otherwise specified, all dates and times refer to Sydney time. PainChek reserves the right, subject to the Corporations Act 2001 (Cth) and the ASX Listing rules, to amend this indicative timetable. In particular, PainChek reserves the right to extend the Closing Date and to accept late applications under the Entitlement Offer without prior notice. Any extension of the Closing Date will have a consequential effect on the Issue Date for the New Shares under the Entitlement Offer. Any changes to the timetable will be posted on the PainChek website at https://painchek.com. The commencement of quotation of New Shares is subject to the discretion of ASX.
Investor Enquiries
For further enquiries about the Entitlement Offer, please do not hesitate to contact the contact the PainChek Offer Information Line on 1300 737 760 (within Australia) or +61 2 9290 9600 (outside Australia) between 8.30am and 5.00pm (Sydney time), Monday to Friday during the Offer Period or by email to [email protected].
Authorised by:
The Board of Directors, PainChek Ltd
About PainChek
PainChek[®] is the world’s first regulatory-cleared medical device for the assessment of pain, enabling best-practice pain management for people living with pain in any environment, from those who cannot reliably self-report their pain, those who can, and for those whose ability to self-report their pain fluctuates.
The PainChek[® ] app is available on smartphones and tablets and combines PainChek’s AI pain assessment tool, which intelligently automates the multidimensional pain assessment process, with the Numerical Rating Scale (NRS). This hybrid functionality allows accurate, consistent pain assessment at the point of care, and for care to be considered in PainChek’s detailed reporting suite, PainChek[®] Analytics.
Globally, PainChek[®] has attained regulatory clearance as a medical device in Australia, Canada, the European Union, New Zealand, Singapore, Malaysia, and the United Kingdom, with FDA review in the United States currently in progress. PainChek[® ] has contracts with over 1,600 aged care facilities, with more than 7,000,000 digital pain assessments conducted to date, and is trusted by thousands of nurses, carers, and clinicians.
Using PainChek[®] , facilities can:
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Ensure greater consistency, continuity, and diagnostic certainty in pain assessment and management by decreasing subjectivity and removing unintentional assessor bias
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Streamline the pain assessment process for time-poor carers, with access to the PainChek[®] tool, the NRS, pain trends, and charting in one solution
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Simplify record-keeping and documentation to demonstrate compliance and support funding claims, with all historical pain assessment data in one place
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Enhance engagement with GPs and allied healthcare professionals
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Clinical studies conducted in Australian and UK residential aged care centres have been published in various peer-reviewed journals including the Journal of Alzheimer’s Disease. An article in BMC Geriatrics indicates that PainChek[® ] is a valid and reliable instrument to assess the presence and severity of pain in people with moderate-to-severe dementia living in aged care. Further information on clinical studies can be found here.
PainChek[® ] has successfully supported accurate pain assessment and management for thousands of adults worldwide living with dementia, disability, or other conditions impacting their ability to self-report pain. Building on the success of this technology, the clinically validated PainChek[®] Infant app identifies and detects six facial action units indicative of pain in infants aged one month to 12 months.
The need for PainChek as a best-practice pain management solution also extends to older people living at home and with access to home care packages that enable long-term home living. PainChek is expanding into home care by partnering with home care and disability service providers.
For more information, visit: https://painchek.com
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