Australia's Cardiex slips on discounted placement

Conneqt Health

30/05/2025 02:24

** Shares of Cardiex CDX.AX fall 8% to A%0.046, their lowest since May 14

** Stock set for its weakest session since May 20, if current trends hold

** Digital health tech co receives commitments to raise A$2.4 million ($1.55 million) via share placement

** Issue price of A$0.04 represents a 20% discount to co's last close

** Co says funds raised will be used to support new device manufacturing, others

** CDX down 13.8% for the month, marking its lowest month since May 2024

** About 240,000 shares change hands, 1.4x the 30-day average of 175,643 shares

** Stock down 52.6% YTD, including current session's moves

($1 = 1.5528 Australian dollars)

(Reporting by Manasi Dasa in Bengaluru)

((Manasi.DasaSundeep@thomsonreuters.com))