** Shares of Australia's EchoIQ EIQ.AX fall as much as 5.7% to A$1.50, their lowest point since June 24

** The medtech firm says it received firm commitments to raise nearly A$110 million ($75.78 million) via placement at an issue price of A$1.45 apiece

** Issue price represents an 8.8% discount to the last traded price

** Funds raised will be used to provide the capital required to fund the company's U.S. commercial expansion strategy and accelerate EchoSolv AI product pipeline - EIQ

** Around 4.2 million shares change hands, nearly 1.4x 30-day average

** EIQ stock up ~509%, YTD

($1 = 1.4516 Australian dollars)