- X-ray technology company Micro-X (MX1) has entered a trading halt ahead of an upcoming capital raise
- So far, it is unknown how much the company is aiming to raise or where the funds will be spent
- Interestingly, it ended the December quarter with a healthy sum of $12.8 million in the bank
- Nevertheless the market will only have to wait until Monday, February 1, at the latest
- Micro-X last traded at 37 cents on January 27
Micro-X (MX1) has entered a trading halt ahead of an upcoming capital raise.
Currently, there are no details about how much the company is aiming to raise or where the funds will be spent.
Company shares will be remain in a trading halt until Monday, February 1, or when more details about the raise are released to the market.
Micro-X is a mobile x-ray technology company that has a range of ultra-lightweight imaging systems for the medical and security industries.
Over the December quarter, the company shipped and invoiced $2 million of mobile Nano and Rover products, with customer receipts totalling $1.6 million.
In November, Micro-X was selected by U.S. Department of Homeland Security for two contracts totalling US$4 million (just over A$5 million).
At the end of the quarter, the company had $12.8 million in the bank.
“This has been an enormous quarter of activity and achievement for the company and I am very proud of the Micro-X team for achieving so much to set us on course for an even more exciting 2021,” Managing Director Peter Rowland said last week.
“The international recognition we have seen of the company’s capability this quarter has reinforced our leadership position in this exciting new technology,” he added.
Micro-X last traded at 37 cents on January 27.