Highlights
• $30.2 million in funding secured by entering into an underwriting agreement that ensures the exercise of all the 4DXO listed options
• Additional funding results in a pro forma cash balance as at 30 September 2025 of $63.7 million
• 4DMedical is experiencing unprecedented interest in CT:VQ™, with multiple contract discussions underway, positioning CY26 as a transformational year
Melbourne, Australia, 12 December 2025: 4DMedical Limited (ASX: 4DX, “4DMedical” or the “Company”) today announces it has entered into an option underwriting agreement (Underwriting Agreement) with Bell Potter Securities Limited (Underwriter) to fully underwrite the exercise of the 4DXO listed options on issue, exercisable at $1.365 per option, and due to expire at 5:00pm AEDT on 31 December 2025.
Approximately 22.2 million 4DXO options were originally issued, representing approximately $30.2 million in funds to 4DMedical if all were exercised. Under the Underwriting Agreement, the Underwriter will subscribe for shares attributable to any remaining unexercised 4DXO options at expiry (Shortfall Shares). The Underwriting Agreement ensures the full amount of $30.2 million in funding to the Company.
So far approximately 8.0 million 4DXO options have been exercised, leaving 14.2 million unexercised options (Underwritten Options), representing an underwriting amount of approximately $19.25 million (Underwritten Amount). Taking these funds into account, 4DMedical will have a pro forma cash balance as at 30 September 2025 of $63.7 million.
In accordance with ASX Listing Rule 3.11.3, 4DMedical advises that the Underwriter is not a related party of the Company and will receive a cash fee of 2.5% of the Underwritten Amount.
Any Shortfall Shares to be issued to the Underwriter (and any sub-underwriters, if appointed) under the Underwriting Agreement are expected to be issued in accordance with ASX Listing Rule 7.2 (Exception 10) and will not require shareholder approval nor count toward the Company’s placement capacity under ASX Listing Rule 7.1.
4DMedical MD/CEO and Founder Andreas Fouras said:
2025 has been an outstanding year for 4DMedical and our shareholders. We are moving at remarkable speed, and our momentum continues to build.
This agreement ensures that we have more than sufficient capital to execute our plans to commercialise CT:VQ™ and to lead the Company through to profitability.
I am excited by our growing traction and look forward to keeping you updated as we advance our strategy of winning key U.S. AMCs as reference sites for CT:VQ™.
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About us:
About 4DMedical
4DMedical Limited (ASX:4DX) is a global medical technology company revolutionizing respiratory care withadvanced imaging and artificial intelligence. Its patented XV Technology® transforms standard scans into rich, functional insights that allow physicians to detect, diagnose, and monitor lung disease earlier and with greater precision.
4DMedical’s expanding software portfolio includes the FDA-cleared XV Lung Ventilation Analysis Software (XV LVAS®), CT LVAS™, and the ground-breaking CT:VQ™ solution designed to set new benchmarks in cardiothoracic imaging by combining ventilation and perfusion analysis.
Delivered seamlessly through a Software-as-a-Service (SaaS) model, 4DMedical’s solutions integrate into existing hospital infrastructure, enhancing physician productivity and enabling more personalized patient care. With the addition of advanced AI capabilities from its 2023 acquisition of Imbio, 4DMedical continues to push the boundaries of medical imaging to redefine how respiratory disease is understood and treated worldwide.
Learn more at www.4dmedical.com
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