• A$5.5 million raised through convertible notes
• Funding to support US sales expansion and working capital
• Notes convertible at $0.195, mature in 12 months
• Additional options may be issued to noteholders

PainChek Ltd, an ASX-listed company, has announced the successful raising of A$5.5 million through the issuance of unsecured convertible notes. These funds will primarily support the company's sales expansion in the United States and provide additional working capital. The notes, which have a face value of A$50,000 each, are convertible at a price of $0.195 per share and carry a 12% annual interest rate. The notes have a 12-month maturity period, and noteholders have the option to convert their notes at any time before maturity. Subject to shareholder approval, noteholders may also receive options to purchase additional shares. The funding will enable PainChek to accelerate its growth initiatives in North America and strengthen its commercial operations.