- DXN (DXN) enters trading halt as it plans an upcoming capital raise and acquisition
- There are currently no details on how much the company is aiming to raise or what or who it is buying
- Under the halt, company shares will be paused for two days until Thursday, September 9, or when more details about the capital raise is released to the market
- On the market, DXN last traded at one cent per share
DXN (DXN) has entered into a trading halt ahead of an upcoming capital raise.
The data centre manufacture didn’t say how much it is aiming to raise, however, did mention the money will be going towards an as-yet undisclosed acquisition.
The halt means company shares will be paused for two days until Thursday, September 9, or when more details about the capital raise is released to the market.
DXN is focused on designing, engineering, constructing, owning and operating modular colocation data centres.
For FY21, the company continued to show revenue growth as well as a significant cost reduction.
Revenue from ordinary activities increased by 58 per cent from $5.2 million in 2020 to $8.2 million in 2021, due to an increase in both the modular business and colocation revenues.
The loss before income tax expense for FY21 was $4.8 million, a 62 per cent improvement over this time last year.
Gross Profit was $2.4 million, higher than last years $1.4 million.
At the end of the period, DXN had over $1.6 million in cash and cash equivalents.
On the market, DXN last traded at one cent per share.