Echoiq Ltd Secures A$110m Placement for EchoSolv AI US Expansion

EchoIQ secures ~A$110m placement to fund US expansion of EchoSolv AI

EchoIQ (ASX: EIQ) has received firm commitments for a ~A$110 million institutional placement, priced at A$1.45 per New Share. The capital raise was strongly supported by existing and new Australian and international institutional investors across the healthcare and technology sectors.

The artificial intelligence and medical technology company intends to direct the funds toward executing its US commercial expansion strategy and accelerating development of its EchoSolv AI product pipeline. The placement marks a substantial capital event for the cardiovascular AI specialist as it moves into its next phase of growth.

Placement terms at a glance

The placement will result in the issue of 75,862,069 new fully paid ordinary shares, representing approximately 11.5% of EchoIQ’s current issued capital. The A$1.45 price reflects an 8.8% discount to the last traded price on 26 June 2026.

New Shares are being issued under the company’s available capacity pursuant to ASX Listing Rules 7.1 and 7.1A. Settlement is expected on Monday, 6 July 2026, with trading expected to commence on Tuesday, 7 July 2026. The New Shares will rank equally with existing ordinary shares from their date of issue.

Where the money goes

EchoIQ has outlined four stated uses for the net proceeds, framing the raise as growth capital to support its expanding commercial footprint:

1. Strengthen EchoIQ’s balance sheet.

2. Accelerate execution of the commercial strategy and support further expansion and deployment of the EchoSolv platform across the US.

3. Continue investing in product development while retaining the flexibility to pursue complementary strategic opportunities.

4. Seek to fast-track development of the broader cardiovascular AI platform, expanding beyond the current product suite through next-generation clinical applications, machine learning capabilities and complementary technologies.

A strengthened balance sheet is expected to support the scaling of the commercial organisation at a time when, according to management, customer engagement continues to build.

What is EchoSolv and why it matters

EchoIQ uses AI-driven technology and proprietary software to improve decision-making in cardiology. EchoSolv is its AI diagnostic platform designed to support the assessment of cardiovascular conditions.

For a medical technology company entering the large US market, two factors are central to converting clinical promise into revenue. FDA clearance confirms a product meets regulatory standards for use, while reimbursement determines whether health systems can recover the cost of deploying it.

Together, a clearance and reimbursement pathway provides the foundation for turning clinical validation into recurring commercial revenue.

A foundation built on execution

The placement follows a sustained period of strategic execution that has progressed EchoIQ from clinical validation toward commercial deployment. Key milestones include:

• FDA 510(k) clearance for EchoSolv Aortic Stenosis (AS).

• FDA submission lodged for EchoSolv Heart Failure (HF), with clearance pending.

• A strategic collaboration with Mayo Clinic.

• A strategic investment and commercial partnership with Pro Medicus Limited (ASX: PME).

• Expanding commercial implementation across leading US health systems.

• Advancing its reimbursement strategy.

The company has stated that collectively these milestones have established the commercial and operational foundations required to support its next phase of growth.

Management’s view

Chief Executive Officer Dustin Haines positioned the raise as the next step in the company’s commercial evolution.

Dustin Haines, Chief Executive Officer

“This Placement represents the next step in Echo IQ’s commercial evolution and reflects the strong strategic progress the Company has delivered over recent years. We have established strong commercial foundations through FDA clearance of EchoSolv AS, expansion across leading US health systems, strategic partnerships with organisations including Mayo Clinic and Pro Medicus, and continued advancement of our EchoSolv HF program. The support received from both existing and new institutional investors reflects confidence in our strategy, our execution and the significant commercial opportunity ahead.”

Haines noted that, following completion of the placement, the company expects to be positioned to accelerate US deployment of EchoSolv at a time of building customer engagement. He pointed to the ability to meaningfully expand the commercial organisation, increase implementation capacity, and accelerate development of the broader cardiovascular AI platform.

What comes next

The immediate next steps centre on settlement of the New Shares on 6 July 2026 and the commencement of trading on 7 July 2026.

Strategically, management has stated its focus on scaling the US commercial team, growing commercial revenues, and expanding the customer base across enterprise health systems. Forward catalysts investors are likely to monitor include the pending FDA decision on EchoSolv HF, progress on the reimbursement strategy, and the planned expansion of the broader cardiovascular AI platform.

The company has reiterated its stated ambition to establish EchoIQ as a leader in AI-enabled cardiovascular diagnostics.

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