Welcome to our dedicated page for Fitell Corporation news (Ticker: FTEL), a resource for investors and traders seeking the latest updates and insights on Fitell Corporation stock.
Fitell Corporation (FTEL) delivers innovative fitness solutions through its online equipment marketplace and boutique studio licensing services. This news hub provides investors and industry professionals with essential updates about the company's operations in Australia's dynamic fitness sector.
Access timely press releases and curated news coverage spanning product launches, strategic partnerships, and market expansions. Our centralized repository simplifies tracking FTEL's developments in both equipment retail and fitness service licensing segments.
Discover updates about key business areas including e-commerce platform enhancements, licensing program updates, and industry leadership changes. All content undergoes strict verification to ensure accuracy and relevance for stakeholders monitoring the fitness equipment and boutique gym markets.
Bookmark this page for streamlined access to FTEL's latest announcements. Combine regular check-ins with our updates to maintain informed perspective on the company's position within Australia's evolving fitness landscape.
Fitell (FTEL), an Australian online retailer of gym and fitness equipment, has received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement. The company's shares have traded below $1.00 for 30 consecutive business days.
Fitell has been granted a 180-day compliance period until September 29, 2025, to meet the minimum closing bid price requirement. The company can regain compliance if its shares maintain a closing bid price of at least $1.00 for a minimum of ten consecutive business days. If unsuccessful, Fitell may be eligible for an additional 180-day extension, provided it meets other listing requirements.
The notification has no immediate impact on Fitell's Nasdaq listing, trading activities, or business operations. The company is considering implementing a reverse stock split as a potential solution to regain compliance.
Fitell (Nasdaq: FTEL), an Australian online retailer of gym and fitness equipment, has announced its upcoming Extraordinary General Meeting (EGM) scheduled for April 9, 2025 at 10:00 a.m. local time in Guangzhou, China.
The meeting will address five key proposals:
- Share Capital Reorganisation
- Charter Amendment
- Share Repurchase and Issuance
- Share Consolidation
- Share Consolidation Memorandum Amendment
Registered shareholders as of March 12, 2025 (record date) are eligible to attend and vote. The company distributed the EGM Notice on March 24, 2025, and filed a 6-K report with the SEC containing detailed information about the proposals.
Fitell (Nasdaq: FTEL), an Australian online retailer of gym and fitness equipment, has closed its previously announced registered direct offering. The offering includes 796,813 ordinary shares and warrants to purchase up to 1,195,220 additional ordinary shares at $5.02 per share.
The company raised $4.0 million in gross proceeds initially, with potential additional proceeds of $6.0 million if all warrants are exercised. The warrants are immediately exercisable and expire in three years. Rodman & Renshaw served as the exclusive placement agent.
Fitell plans to use the net proceeds for developing and launching smart fitness equipment, general corporate purposes, working capital, and potentially acquiring complementary businesses or technologies, though no specific commitments exist currently.
Fitell (NASDAQ: FTEL), an Australian online retailer of gym and fitness equipment, has revised its registered direct offering terms. The company will issue 796,813 ordinary shares and warrants to purchase up to 1,195,220 additional shares at $5.02 per share and associated warrant.
The offering is expected to generate $4.0 million in initial gross proceeds, with potential additional proceeds of $6.0 million if all warrants are exercised. The warrants will be immediately exercisable and expire after three years. Rodman & Renshaw serves as the exclusive placement agent.
The net proceeds will fund the development and launch of smart fitness equipment, general corporate purposes, and potential acquisitions or investments in complementary businesses. The offering is expected to close around February 10, 2025.
Fitell (Nasdaq: FTEL), an Australian online retailer of gym and fitness equipment, has announced a $10.0 million registered direct offering. The offering includes 1,992,032 ordinary shares and warrants to purchase up to 1,992,032 additional shares at $5.02 per share and associated warrant. The warrants will be immediately exercisable at $5.02 per share and will expire in five years.
The offering is expected to close around February 10, 2025, with Rodman & Renshaw acting as the exclusive placement agent. The company plans to use the net proceeds for developing and launching smart fitness equipment, general corporate purposes, and working capital. Fitell may also consider acquiring or investing in complementary businesses and technologies.
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