Micro-X Ltd (ASX:MX1) Announces $6.0M Capital Raising
Capital Raising
Micro-X Ltd (ASX:MX1) has commenced a $6.0 million capital raising through a placement of approximately $2.0 million to professional investors and a 1 for 10 entitlement offer to existing shareholders, priced at 7.0 cents per share. Directors and key management are also participating with a commitment of $0.28 million, subject to shareholder approval.
Strategic Investment
Additionally, Billion Prima has invested $2.4 million at 9.0 cents per share, a 15% premium to the last closing price, as part of a strategic partnership focused on security screening technology in South-East Asia.
Use of Funds
The raised capital will support Micro-X’s strategic focus on medical imaging, including the development and commercialisation of mobile X-ray and CT products, and achieving cashflow stability.
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