IPO - Fitell Corp

Form Type: 424B5

Filing Date: 2025-02-10

Corporate Action: Ipo

Type: New

Accession Number: 000149315225005573

Filing Summary: Fitell Corp is offering a total of 796,813 ordinary shares and warrants to purchase an additional 1,195,220 ordinary shares. The offering price is set at $5.02 per ordinary share, which includes the associated investor warrants. The investor warrants are immediately exercisable for three years but come with a beneficial ownership limitation of 4.99% or 9.99% upon election. Additionally, Rodman & Renshaw LLC will receive warrants to purchase 55,777 ordinary shares as compensation for acting as the placement agent. Delivery of the shares is anticipated on or about February 10, 2025, contingent upon closing conditions being met. The company, classified as an emerging growth company, aims to use proceeds for the development of smart fitness equipment and general corporate purposes, while also reserving the potential for investing in complementary businesses. The ordinary shares are listed on the Nasdaq Capital Market under the symbol FTEL, although there is no public trading market for the warrants being offered. The document discusses the risks associated with investing in their securities, including substantial volatility in market price and potential dilution of value for investors.

Form Type: F-3

Filing Date: 2025-01-10

Corporate Action: Ipo

Type: New

Accession Number: 000149315225001773

Filing Summary: Fitell Corporation, incorporated under Cayman Islands law, is filing for a shelf registration statement to offer and sell securities valued up to $150,000,000. This includes ordinary shares, debt securities, warrants, rights, and units, allowing flexibility in capital raising through various means. The Company successfully completed an initial public offering on August 10, 2023, raising $15 million, and began trading on the Nasdaq under the symbol FTEL. The prospectus outlines a broad scope for future offerings and emphasizes the high risk associated with investing. Fitell operates primarily through its subsidiary GD Wellness, which focuses on online retail of gym and fitness equipment, contributing a significant amount of sales from repeat customers. The document indicates ongoing developments in technology-enhanced fitness equipment and services, alongside a diversified product and marketing strategy aimed at enhancing customer engagement and brand loyalty.