- Harvest Technology Group (HTG) has entered a trading halt ahead of 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
- HTG shares will be paused until Monday, May 3, or when more information about the raise is released to the market
- At the end of the third quarter, the company had a closing cash balance of $3.5 million
- On the market, HTG last traded at 32.5 cents per share on April 28
Harvest Technology Group (HTG) has entered a trading halt ahead of an upcoming capital raise.
So far, there are no details on how much the company is aiming to raise or where the funds will be spent.
Under the halt, HTG shares will be paused until Monday, May 3, or when more information about the raise is released to the market.
Harvest comprises a group of Australian companies developing advanced connectivity solutions for the energy, resources and renewables sectors.
At the end of the third quarter, the company had a closing cash balance of $3.5 million.
Last week, HTG agreed to purchase U.S. software-as-a-service (SaaS) company SnapSupport.
According to the company, the merger will deliver on the company’s strategic commitments to accelerate a SaaS-based business model and expand its access into the U.S.
On the market, HTG last traded at 32.5 cents per share on April 28.