- Home security provider Scout Security (SCT) has entered the week in two trading halts ahead of an upcoming capital raise
- So far, it is unknown how much Scout is aiming to raise and where the funds will be spent
- The company will remain in the halt until the end of the week or when more details are released to the market
- Over the September quarter, Scout burnt through $414,000 on operating activities and ended the quarter with $289,000 in cash
- On the market, Scout last traded for 15 cents per share on October 30
Scout Security (SCT) has entered two trading halts ahead of an upcoming capital raise.
So far, it is unknown how much Scout is aiming to raise and where the funds will be spent.
The company will be in a halt until Friday, November 6, or when more details are released to the market.
Over the September quarter, Scout burnt through $414,000 on operating activities and ended the quarter with $289,000 in cash — up from the previous quarter’s $62,000 result.
Back in July, the company signed a commercial agreement with Prosegur to roll out its products across the globe.
Under this agreement, Prosegur plans to launch and market security products based on Scout’s technology.
Recently, Scout received its first hardware purchase order from Prosegur. Everything is currently on schedule to launch Prosegur-branded hardware from Scout into the market this year, however, this does depend on the delivery of hardware
On the market, Scout last traded for 15 cents per share on October 30.