Australia's PainChek hits lowest in almost 8 months on discounted placement

PainChek

14/03/2024 03:04

** Shares of PainChek  PCK.AX  falls as much as 10.3% to
A$0.026, their lowest since July 24
    ** Stock posts biggest intraday loss since March 6
    ** Pain assessment technology developer says it will raise
additional A$2.5 mln ($1.65 mln) at an issue price of A$0.0251
per new share 
    ** Issue price represents a 13.4% discount to PCK's last
close 
    ** Stock was on a trading halt on Tuesday and Wednesday
    ** Co adds it has signed reseller agreement with UK-based
care management software provider Nourish Care to facilitate
sales of the PainChek digital pain assessment app directly
through Nourish
    ** Stock down ~22% YTD, as of last close

($1 = 1.5110 Australian dollars)

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))