Argent BioPharma (ASX:RGT) (OTCQB:RGTLF) has successfully completed a US$4.5 million capital raise through a placement of 5,625,000 Units at US$0.80 each. Each Unit includes two ordinary shares and one warrant exercisable at US$0.55 with a three-year expiry.
The placement will be executed in two tranches: Tranche 1 with 5,000,000 shares and 2,500,000 warrants issued immediately, and Tranche 2 with 6,250,000 shares and 3,125,000 warrants subject to shareholder approval. The shares are priced at US$0.40, representing a 370% premium to the 15-day VWAP.
The funds will support Argent's drug development pipeline, particularly CannEpil® clinical studies. The company is conducting a strategic review following LSE delisting and preparing for US National Listing. Sputnik Enterprises , acting as corporate advisor, will receive a 5% cash fee and 1,125,000 warrants.
Reliq Health Technologies has expanded its contract with a large US healthcare group, potentially adding over 30,000 new patients to its iUGO Care platform by the end of 2025. The client, originally using Reliq's services in Florida, will now include facilities in Pennsylvania. This expansion is expected to generate an average revenue of $65 per patient per month. The healthcare group manages over 80,000 patients across Florida, Pennsylvania, Illinois, and Michigan. Reliq's iUGO Care platform offers solutions for remote patient monitoring, chronic care management, and behavioral health integration, which aim to improve health outcomes and reduce care costs.
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