Heart Test Laboratories Raises $4.3 Million in Regulation A Offering, Issues Units and Converts Debt

Heart Test Laboratories has raised $4.3 million through its Regulation A Offering, issuing 1,241,188 Units. Additionally, the company completed a debt exchange, converting $1,105,000 of an unsecured promissory note into 301,111 shares of common stock. The total number of shares of common stock outstanding is now 2,244,247. The stock has a Buy rating with a $12.00 price target.

HeartSciences Inc. (HSCS), a leader in AI-powered cardiac diagnostics, recently reported its fiscal 2025 financial results and business updates, highlighting significant progress in its AI-ECG technology. The company's flagship MyoVista Insights™ cloud-native software platform, launched in May 2025, aims to modernize ECG management systems and serve as a marketplace for AI-ECG algorithms.

Key financial highlights include:
- Cash on hand as of April 30, 2025, stood at $1.1 million.
- The company raised $3.1 million through a Reg A+ offering.
- $0.9 million of debt was converted to equity.

Business developments include:
- CMS approval for AI-ECG algorithm reimbursement at $128 per test.
- FDA Breakthrough Device designation for the aortic stenosis algorithm.
- Expansion to 44 granted patents worldwide.
- Preparation for FDA 510(k) submission of the MyoVista wavECG™ device.

HeartSciences also announced a partnership with Westcliffe Health Innovations in the UK, marking the first commercial customer for MyoVista Insights™. The platform is designed to be vendor- and device-agnostic, capable of running AI-ECG algorithm models from multiple partners. This partnership aims to enhance clinical decision-making and improve healthcare IT efficiency.

In addition, the company has strengthened its Scientific Advisory Board with the addition of three distinguished experts in cardiology and AI. These appointments align with HeartSciences' mission to transform ECG technology through AI for earlier heart disease detection.

The company's CEO, Andrew Simpson, will present at the Emerging Growth Conference 82 on May 21, 2025, providing investors with insights into the company's AI-ECG platform and mission.

References:
[1] https://www.stocktitan.net/news/HSCS/
[2] https://www.stocktitan.net/news/HSCS/