- Product development and engineering company Hydrix (HYD) has requested two consecutive halts ahead of an upcoming capital raise
- The company will be placed in a trading halt until Tuesday, July 7
- In April, Hydrix reported it was well-funded, with operating revenue growing 10.8 per cent compared to the third quarter of 2019
- In March, Hydrix Medical was granted exclusive rights to distribute AngelMed’s Guardian System, which is an implantable heart-attack warning device
- From this, the company will focus on generating revenue from the Asian Pacific markets
- Hydrix entered the trading halt this morning, with last shares trading for 10 cents each
Product development and engineering company Hydrix (HYD) has requested two consecutive halts ahead of an upcoming capital raise.
The company will be placed in a trading halt until July 7, or when the capital raise announcement comes out.
What’s happened over the past six months?
For the March quarter, Hydrix’s operating revenue grew 10.8 per cent to $3.82 million, compared to the third quarter of 2019.
“The company anticipates solid revenue growth from Hydrix Services in the 2021 calendar year,” Hydrix told the market in April.
Hydrix also said it is well placed to withstand the challenging environment.
In March, Hydrix Medical was granted the exclusive rights to distribute AngelMed’s Guardian System, which is an implantable heart-attack warning device.
The device monitors heart signals and allows patients to seek medical attention if the device senses something isn’t right.
The agreement covers eight areas around the Asia Pacific countries. As a result, the company’s key focus is generating revenue from key Asian Pacific markets.
Hydrix entered the trading halt this morning, with last shares trading for 10 cents each.