SECsense Logo

Fitell Corp's 6-K Report: Key Insights on Direct Offering & Share Issuance

$FTEL
Form 6-K
Filed on: 2025-02-10
Source
Fitell Corp's 6-K Report: Key Insights on Direct Offering & Share Issuance

Here are the key insights extracted from the provided financial report:

  1. Company Information:
  • Name: Fitell Corporation
  • Registration: Cayman Islands company
  • Address: 23-25 Mangrove Lane, Taren Point, NSW 2229, Australia
  1. SEC Filing Details:
  • Filing Type: Form 6-K
  • Commission File Number: 001-41774
  • Filing Date: February 10, 2025
  • Reporting Period: February 2025
  1. Offering Details:
  • Fitell Corporation announced a revision of terms for a previously announced registered direct offering.
  • Total Shares Issued: 796,813 ordinary shares.
  • Additional Investment Rights: Warrants to purchase up to 1,195,220 ordinary shares.
  • Purchase Price: $5.02 per ordinary share and associated warrant.
  • Warrant Exercise Price: $5.02 per share.
  • Warrant Exercise Terms: Immediately exercisable upon issuance, with an expiration of three years from the issuance date.
  • Expected Closing Date: On or about February 10, 2025, subject to customary closing conditions.
  1. Legal Disclaimer:
  • The filing and the attached exhibit are not an offer to sell or a solicitation of an offer to buy the securities described.
  1. Exhibit Information:
  • A press release related to the offering is included as Exhibit 99.1 and is referenced in the report.
  1. Signatory Details:
  • The report is signed by Yinying Lu, who is the Chief Executive Officer and Director of the company.

This report outlines significant corporate actions relating to capital raising through a direct offering and provides necessary compliance with SEC regulations.