- Archer Materials (AXE) enters a trading halt as it plans for an upcoming capital raise
- Currently there are no details on how much the company is aiming to raise or where the funds will be spent
- Company shares will be paused until Tuesday, October 5, or when more information is released to the market
- On the market, Archer last traded at $1.74 per share
Archer Materials (AXE) has entered into a trading halt as it plans for an upcoming capital raise.
There are currently no details on how much the company is aiming to raise or where the funds will be spent.
Under the halt, company shares will be paused until Tuesday, October 5, or when more information is released to the market.
Archer is an Australian-based materials technology company that is focused on developing and commercialising deep technology.
Last month, the company landed a US patent for its 12CQ quantum computing chip technology.
The patent protects Archer’s intellectual property (IP) relating to the chip in the US.
Archer said this patent represented the “most significant” early-stage commercialisation milestone for the company.
On the market, Archer last traded at $1.74 per share.