- Dug Technology (DUG) shares have entered a trading halt while the company gears up for a proposed capital raising
- DUG shares will be lifted from the trading halt on or before Tuesday September 7, at which time further information on the raise is expected to be announced
- The company recently signed fellow ASX-lister Austal (ASB) for its “high performance computing as a service”
- DUG says the growing pool of DUG McCloud users highlighted a trend with a positive upside
- Prior to today’s trading halt, Dug Technology shares last changed hands at $1.03
Dug Technology (DUG) shares have entered a trading halt while the company gears up for a proposed capital raising.
Securities in the computing technology company are set to remain in a trading halt until Tuesday, September 7, at which time further details regarding the raise are expected to be released to the market.
At this stage, DUG has not disclosed how much it might look to raise or for what purpose.
The company reported a cash balance for the 2021 financial year of US$10.0 million (A$13.4 million) compared to US$12 million (A$16.1 million) for the 2020 financial year – based on preliminary unaudited results.
In other recent news, Dug Technology said it had signed an agreement with fellow ASX-lister Austal Australia (ASB) to provide its “high-performance computing as a service”.
DUG said it was unable to estimate the revenue the deal would bring in at the time, but said the growing pool of DUG McCloud users highlighted a trend with a positive upside.
Prior to today’s trading halt, Dug Technology shares last changed hands at $1.03.