- IXUP (IXU) has entered back-to-back trading halts ahead of an upcoming capital raise
- At this stage, more details about the capital raise will be released by the end of the week
- Company shares will be paused until Friday, November 6, or when the capital raise information is released to the market
- Over the first quarter of the 2021 financial year, the company spent around $390,000 on operating activities and ended the period with $4 .2 million in the bank
- On the market, IXUP last traded for 6.8 cents per share on November 2
IXUP (IXU) has entered into back to back trading halts ahead of an upcoming capital raise.
At this stage, more details of the capital raise will be released by the end of the week, when IXUP comes out of the trading halts.
IXUP is a leading technology company that secures data analytics and collaboration by using advanced encryption.
Over the first quarter of the 2021 financial year, the company spent through around $390,000 on operating activities. At the end of the period, IXUP had around $4.2 million in the bank.
Last month, the company appointed Marcus Gracey as an Executive Director to IXUP. He is an experienced corporate and legal executive and has a diverse background in the technology, innovation and law and business industries.
Marcus will focus on identifying, assessing and prosecuting opportunities for the application of the company’s core technology across various global sectors and markets.
“His appointment diversifies the skills of the board and management team and will no doubt be of valuable assistance in the future commercialisation of IXUP’s unique and proprietary platform,” Chairman Grant Paterson said on the appointment.
On the market, IXUP last traded for 6.8 cents per share on November 2.