IME Successfully Raises $2.5m to Support Growth

Open PDF
Stock Imexhs Ltd (IME.ASX)
Release Time 3 Apr 2025, 9:57 a.m.
Price Sensitive Yes
 IME Successfully Raises $2.5m to Support Growth
Key Points
  • A$1.5m raised via placement, supported by new and existing investors
  • Conditional placement of A$1.0m to directors, subject to shareholder approval
  • Share Purchase Plan to raise up to an additional A$1.0m
Full Summary

IMEXHS Limited (ASX: IME) has announced that it has received binding commitments for A$1.5m via a placement to sophisticated and institutional investors, and an additional A$1.0m via a Conditional Placement to IMEXHS directors and their associated entities, subject to shareholder approval. The company also intends to raise up to an additional A$1.0m via a Share Purchase Plan. The net proceeds of the Offer will be used to provide working capital and drive growth in the company's new AI-enabled software platform, Aquila+. IMEXHS is also in advanced negotiations for a material radiology contract with a public hospital district in Bogota, Colombia. The contract, if awarded, is expected to have a significant impact on revenue and earnings, with monthly recurring revenue expected to be in the order of $600,000, making it IMEXHS's second largest contract. The directors consider there is a high likelihood of the contract being awarded, as IMEXHS was identified as the preferred provider following a limited tender process. However, there can be no certainty until the contract is signed, which is expected to occur in April 2025. The payment terms under this potential new contract are 90 days and will require additional working capital, which will be supported by the funds raised under the Offer.

Guidance

The company expects the material radiology contract in Colombia, if awarded, to have a significant impact on revenue and earnings, with monthly recurring revenue expected to be in the order of $600,000, which would make it IMEXHS's second largest contract.

Outlook

IMEXHS is committed to delivering a profitable and cash positive year in 2025, and the funds raised will be used to provide working capital and drive growth in the company's new Aquila+ software platform. The company is also in advanced negotiations for a material radiology contract in Colombia, which is expected to have a significant impact on revenue and earnings.