- Digital simulations specialist xReality (XRG) enters a mid-week trading halt in regards to an upcoming capital raising
- The company will remain in the halt until Friday, May 27 or when an announcement regarding the capital raising is released, whichever occurs first
- This is the first capital raising xReality has launched since it changed its name from Indoor Skydive Australia in mid-December 2021
- The company said the name change aligned with its growth strategy and broadening of services on a global scale
- Shares in xReality last traded at 3.2 cents on May 24
Digital simulations specialist xReality (XRG) has entered a mid-week trading halt in regards to an upcoming capital raising.
The company will remain in the halt until Friday, May 27 or when an announcement regarding the capital raising is released, whichever occurs first.
xReality is yet to disclose how much it intends to raise or what it will use the funds for once received.
This is the first capital raising xReality has launched since it changed its name from Indoor Skydive Australia in mid-December 2021.
The company said the name change aligned with its growth strategy and broadening of services on a global scale.
xReality’s most recent news was its March quarterly report with the company revealing it had burnt through more than $353,000 and invested $482,564 in non-current assets.
However, xReality tabled more than $2.25 million in customer receipts.
xReality ended the quarter with $1.06 million in total available funding, representing 3.02 quarters of use if spending levels remain the same.
Shares in xReality last traded at 3.2 cents on May 24. The company has a $10.77 million market cap.