Companies / CQT

CONNEQT HEALTH LIMITED

ASX:CQTHealth Care Equipment & Services
922.7M shares on issueASX (delayed) · snapshot 11 Sept 20261.01B fully diluted+9.8% if every option and right converts$0.020price · delayed$18.5Mmarket cap · indicative

Today’s holders own 91.0% of what they think they own, once every option and right converts.

Very high
Dilution riskprovisional — limited history

Runway under 2 quarters; share count grew 51% in 24 months; 4 cash raises in 24 months; since relisting as CQT; prior history under CDX not included

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway0.2 quarters of funding
Share-count growth (24m)50.7%since relisting as CQT; prior history under CDX not included
Raise cadence (24m)4 cash raisessince relisting as CQT; prior history under CDX not included
Options & rights overhang9.8% of shares
In-the-money supplyno data — an exercise price is on record for a minority of the supply
Pending proposed issuesopen proposed issue (Appendix 3B)

CONNEQT HEALTH LIMITED, which commenced trading as CQT in September 2025, had a share count of 923M as of August 2026, an increase of 50.7% since December 2025. In that period, the company raised capital four times for disclosed confirmed proceeds totalling A$11.0M, with the latest being a A$5.9M placement in June 2026. Existing options and rights on issue could convert into 91M new shares, representing 9.8% of the current share count, with the nearest expiry in April 2027. As of the June 2026 quarter, the company held A$566K in available cash, covering approximately 0.2 quarters of operations. No proposed securities issues are currently pending.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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9.8%
Options & rights overhang
—
In-the-money supply · most strikes not on record
3
Raises · last 12 months
0.2 qtrs
Cash cover · under 2 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Shown since relisting as CQT (22 Sept 2025); prior history under CDX is not included. Latest count 922.7M per ASX (delayed) (snapshot 11 Sept 2026).
600M700M800M900MSept 25Mar 26Sept 26Cash raise · 16 June 2026Cash raise · 16 Apr 2026Cash raise · 18 Dec 2025922.7M

Cash runway

0.2 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
The latest quarterly report funded operations to about July 2026 — that date has passed, and no later report is on record.
$538k cash after burn from the quarter ended 30 June 2026 · Runway is computed from Appendix 4C/5B filings and announced raise proceeds. Filed with the quarterly report: $2.6M cash at quarter end (item 4.6), 1.0 qtrs of funding on the company’s own estimate. Our figure above carries the filed quarter-end balance forward at the reported spend rate and adds announced raise proceeds.
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4 quarters on record — Cash runway history
Quarterly cash, net spend and cover trend from every Appendix 4C/5B on record up to 30 June 2026.
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Issuance timeline

Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)

DateFormSecurityOn issue, per this filingSource
31 Aug 20263H · cancellationCQT : ORDINARY FULLY PAID922.7MAppendix 3H
6 Aug 20262A · quoted issueCQT : ORDINARY FULLY PAID922.7MAppendix 2A
24 June 20262A · quoted issueCQT : ORDINARY FULLY PAID804.4MAppendix 2A
24 June 20262A · quoted issueCQT : ORDINARY FULLY PAID744.5MAppendix 2A
11 June 20263H · cancellationCQT : ORDINARY FULLY PAID643.5MAppendix 3H
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13 filings on record — Full issuance history
Every quoted and unquoted issue and cancellation on record, plus unquoted securities (Appendix 4.2).
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Capital raises

4 cash raises in the last 24 months · 3 in the last 12 months · counted since relisting as CQT (22 Sept 2025); prior history under CDX is not included

every 3.3 monthsaverage gap between raises
2.9 monthssince the most recent
15 Aug 2025 – 16 June 2026first to most recent in this window
$5.9M
Placement
16 June 2026 ACTIVE
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4 raises on record — Full raise history
Issue price, shares issued, brokers and stated purpose for every raise on record.
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Forward supply

Every dated event on record that could add securities to the register — option expiries to their stated dates and proposed issues over the next 18 months, on one timeline.

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5 dated events on record — Forward supply calendar
Option expiries and proposed issues on one forward timeline, with the securities each could add.
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Placement capacity

How much stock a company can place without asking holders. Listing Rule 7.1 allows 15% of ordinary securities in any 12 months, and every Appendix 3B states how much of it an issue uses.

No estimate — no share count old enough to measure 15% of. The company has also placed under the additional 10% (Listing Rule 7.1A), which is not counted in this figure.
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Placement capacity — LR 7.1 / 7.1A
The filings behind the figure: every Appendix 3B in the window with what it says was issued under 7.1 and 7.1A, each row linked to its filing, and how many shares are left.
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Pending proposed issues

No proposed issues (Appendix 3B) currently pending.

Options & convertible securities

9.8%
Options & rights overhang · of current shares
—
In-the-money supply · most strikes not on record
90.8M
Potential new shares
Apr 2027
Nearest expiry
What this supply is, and what converts it
  • Price-triggered13.8M · 1.5% of shares
    Options and warrants — they convert when the share price clears their exercise price.
  • Condition-triggered77.0M · 8.3% of shares
    Performance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.

Exercise price on record: 13.8M priced, 77.0M where the filing never states one. A security with no exercise price is never counted in the money — nothing is paid to convert it, so there is no price for it to be above.

Each figure is the filing’s own count of securities, not a share count — a 2A never states what one security converts into.

What a price move would switch on
45.4M90.8M$0.020 now0.25× today ($0.005) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.010) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.015) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.020) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.025) — 0 of the priced supply in the money, 0.0% of shares on issue1.5× today ($0.030) — 0 of the priced supply in the money, 0.0% of shares on issue2× today ($0.040) — 0 of the priced supply in the money, 0.0% of shares on issue3× today ($0.060) — 0 of the priced supply in the money, 0.0% of shares on issue5× today ($0.100) — 0 of the priced supply in the money, 0.0% of shares on issue10× today ($0.200) — 8.7M of the priced supply in the money, 0.9% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

An exercise price is on record for only 15.2% of this supply, so what is in the money today is not a measurement — the tile above reads “—” for that reason. Of the priced supply, 0 is in the money at $0.020 today. No more priced supply until 10× today’s price, which takes it to 8.7M (0.9% of shares).

  • Priced supply in the money at the price on the axis — the curve, and the only thing on it. Ten prices, sampled: between two of them the true figure lies between the two.
  • 77.0M (84.8% of the supply above) states no exercise price at all. It cannot be called in or out of the money at any price, which is why it is hatched rather than plotted.
  • 5.1M more carries an exercise price above ten times today’s — off the right of this axis, and in every total on this page.
CodeSecurityTypeExercise priceExpiryOn issueSource
CQTAEOptionsPrice-triggered$0.5026 Apr 2027150kFiling
CQTAROptionsPrice-triggered$0.8030 June 20271.3MFiling
CQTADOptionsPrice-triggered$0.5016 Dec 20271.9MFiling
CQTAAOptionsPrice-triggered$0.5030 June 20281.8MFiling
CQTAZOptionsPrice-triggered$0.1014 July 20308.7MFiling
CQTAFPerformance rightsCondition-triggered——77.0MFiling

“Nil” is a stated nil exercise price: nothing is paid to convert. An em dash means the filing names no exercise price at all. Security is read from the filing’s own class description; an em dash there means the description is not one this table labels. One row is one security class, at the number stated in the most recent quotation application that restated it — linked, and dated, in the last column.

1 class ceased in the last 12 months and is not counted above
The company’s own Appendix 2A restates each of these at zero. They are excluded from the overhang, the in-the-money supply and every figure on this page. Each count is the filing’s own count of securities in the class, not a share count — a 2A never states what one security converts into.
  • CQTABConverts on terms2.0M securities → 024 June 2026 Appendix 2A
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6 option lines on record — In-the-money value & price ladder
What each line is worth in the money today, the price ladder to the next tranche that converts, and the filing description behind every code.
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Director dealings

DateDirectorTypeSharesOptionsOtherValueSource
31 Aug 2026Craig CooperSell—1.5M——3Y notice
31 Aug 2026Niall CairnsSell—1.7M——3Y notice
25 June 2026Craig CooperOther101.0M1.5M—$2.0M3Y notice
25 June 2026Niall CairnsOther101.0M200k—$2.0M3Y notice
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11 notices on record — Full dealing history
Every change-of-director's-interest notice on record, with direction and consideration.
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Ownership

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Top-20 holders & substantial holder notices
Top-20 register snapshot and substantial-holder movements, each linked to its source notice.
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Latest announcements

6 Sept 2026$PCQT Expands US Distribution Through Blueprint Agreement
4 Sept 2026Extraordinary General Meeting Withdrawal of Resolutions
1 Sept 2026Appendix 3Y x2
31 Aug 2026CONNEQT Health Shareholder Update
31 Aug 2026Notification of cessation of securities - CQT
31 Aug 2026$PAppendix 4E
14 Aug 2026Notice of Extraordinary General Meeting/Proxy Form
7 Aug 2026Cleansing Statement
6 Aug 2026Application for quotation of securities - CQT
6 Aug 2026Results of Share Purchase Plan
29 July 2026Share Purchase Plan Closing
22 July 2026Update - Proposed issue of securities - CQT
22 July 2026Share Purchase Plan Timetable Extension
22 July 2026CONNEQT Investor Webinar Presentation
21 July 2026$PJune Quarterly Activities Report
21 July 2026$PJune Quarterly Appendix 4C
16 July 2026CONNEQT Investor Update Webinar
29 June 2026Update - Proposed issue of securities - CQT
29 June 2026$PCQT Announces SPP Launch, Booklet & Timetable
29 June 2026Cleansing Statement

Headlines link to the source PDFs on the ASX announcements platform. Data as of 12 Sept 2026.