The Board of InteliCare Holding Limited (Company) (ASX: ICR) refers to its announcement of 15 November 2021 in relation to the pro-rata non-renounceable entitlement offer to eligible shareholders on the basis of 1 fully paid ordinary share at an issue price of $0.08 per new share (New Share) for every 2.25 Shares held as at 5.00pm (Perth time) on Friday, 19 November 2021 (Entitlement Offer).

The Entitlement Offer was strongly supported by eligible shareholders, who applied for 37,408,864 New Shares, raising approximately $1.3 million (before costs), pursuant to their entitlements. This represents a 44% take up rate of entitlements by eligible shareholders. The Entitlement Offer shortfall was 21,036,101 New Shares which has been allocated by Westar Capital Ltd in accordance with the Underwriting Agreement previously announced on 15 November 2021.

Significantly, the Company is very pleased to welcome a new cornerstone investor, Merchant Biotech Fund, onto the register. Merchant Biotech Fund has a significant record backing early-stage med tech, health tech, biotech and life sciences companies. As a result, Merchant Biotech Fund will hold 6% of the Company’s expanded share capital.

Intelicare Chief Executive Officer and Managing Director, Jason Waller, said “We are very happy with the results of this raise and the continuing loyal support of our existing shareholders. Additionally, the quality of our new shareholders is impressive and will greatly assist in shaping our way forward as we continue to build on our record growth.”

The New Shares will be issued under the Entitlement Offer on 22 December 2021 and are expected to commence trading on ASX on 23 December 2021. The New Shares to be issued under the Entitlement Offer will rank equally with existing ordinary shares on issue.
This announcement is approved for release by the Board of InteliCare Holdings Limited.