- Data protection solutions company Cipherpoint (CPT) has entered a trading halt as it plans a capital raise and flags a potential acquisition
- Currently, there are no details on the raise or the subsequent acquisition
- However, the company did state that shares will be paused until Thursday or until more information is released to the market
- Looking at CPT’s finances — Cipherpoint had just over $2.2 million in the bank at the end of the September quarter
- Shares in Cipherpoint last traded at 5.8 cents on January 11
Cipherpoint (CPT) has entered into a trading halt ahead of an upcoming capital raise and potential acquisition.
So far, the data protection solutions company hasn’t detailed how much it is planning to raise or what the purchase may be.
Instead it confirmed that company shares will be paused until Thursday, January 14, or until more details about the raise are released to the market.
As a business, Cipherpoint aims to transform and protect data, through its solutions, in SharePoint, Office 365, Amazon AWS, Azure and other clouds.
At the end of the September quarter, Cipherpoint spent $450,000 on operating activities and had just over $2.2 million worth of cash in the bank.
During that quarter, the business continued to engage on a number of exciting opportunities in the European, North-American and Asian markets.
Cipherpoint’s near term goals are to build major IT integrator channel relationships and accelerating internal cloud platform development efforts.
Shares in Cipherpoint last traded at 5.8 cents each on January 11.