- Space tech company Kleos Space (KSS) launches into a trading halt as it plans a capital raise
- Currently it is unknown how much the company is aiming to raise or where the funds will be spent
- Under the halt, company shares will be paused until September 6 or when more information is released to the market
- On the market, Kleos last traded at 95.5 cents per share
Kleos Space (KSS) has entered into a trading halt as it plans 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.
The halt means company shares will be paused until either Monday, September 6, or when more details about the raise is released to the market.
Kleos Space’s technology enables users to listen and locate radio signals from a number of devices. In addition, its technology also allows the control of ships of undesirable users such as drugs, people smugglers, terrorists, pirates and illegal fisherman.
In July, the company launched its second satellite cluster aboard the Spaceflight SXRS-5/SpaceX Transporter2 Mission.
The company said the satellites further enhance its global coverage and data collection capabilities and broaden the coverage range of Kleos’ first cluster of four scouting mission satellites.
At the end of June, Kleos has $3.7 million cash on hand.
On the market, Kleos last traded at 95.5 cents per share.