If we all remember back in October they were looking for $10...

If we all remember back in October they were looking for $10 million. I believe that only $4 million or so was raised so it might be a money issue with the ASX (forward funding).

I laugh at the last sentence below concerning the big LAUNCH for the next generation single-chip at the Jan 2024 CES!




CHAIRPERSON’S LETTER
10 October 2023
Dear Shareholder
On behalf of the Board of Nuheara Limited, I invite you to participate in a 1 for 2.64 accelerated nonrenounceable pro-rata entitlement offer anticipated to raise approximately $10 million.
Under the Entitlement Offer, eligible Nuheara shareholders as at the record date of 4.00pm (AWST) on 12
October 2023 will have the opportunity to subscribe for New Shares at an issue price of $0.13 per New
Share.
The proceeds of the Entitlement Offer will be applied principally to fund:
• sales and marketing investment required to expand the points-of-sale, including in-store displays &
advertising which is expected to drive sales;
• working capital including materially increasing production ahead of expected increased sales ahead
of the business reaching the scale required to generate sustainable profitability; and
• external pre-launch costs for Nuheara’s next generation single-chip product which is expected to be
launched at CES in January 2024 and brought to market in CY2024.