- DC Two (DC2) places its shares in a trading halt while it plans the details of an upcoming capital raising
- The company will remain in the halt until September 27 or when more details regarding the raise are released, whichever occurs first
- On September 3, DC Two announced its data centre in Victoria had advanced to the next stage of commercialisation
- The company’s project partner, Joule Energy, has purchased an individual data centre unit for just over $482,000
- Shares in DC Two last traded at 18 cents on September 22
DC Two (DC2) has placed its shares in a trading halt while it plans the details of an upcoming capital raising.
The company will remain in the halt until September 27 or when more details regarding the raise are released, whichever occurs first.
DC Two is yet to disclose how much it intends to raise or what it will use the funds for once received.
On September 3, DC Two announced its data centre in Victoria had advanced to the next stage of commercialisation.
The company’s project partner, Joule Energy, had purchased an individual modular data centre unit from DC Two for just over $482,000.
Both Joule and DC Two are working together to deploy a number of data centres at DC2’s renewable energy site in Victoria.
Both companies are also working towards formal agreements for property access for multiple DC Two owned and operated data centre modules.
In its FY21 report, DC Two revealed it had revenue of just over $1.74 million for the financial year, down six per cent from the prior corresponding period (pcp).
Additionally, loss was up 1570 per cent over the pcp to $3.48 million.
As of June 30, the company had a cash and cash equivalent balance of $58.5 million, up from the $5.73 million in the pcp.
Shares in DC Two last traded at 18 cents on September 22. The company has a $10.53 million market cap.