- XTEK (XTE) enters a trading halt as it plans for an upcoming capital raise
- Currently, it is unknown how much the company is aiming to raise or where the funds will be spent
- Company shares will be paused until Monday, October 4, or when more details are released to the market
- On the market, XTEK last traded at 36.5 cents per share
XTEK (XTE) has entered into a trading halt as it plans for an upcoming capital raise.
So far there is no details on how much the company is aiming to raise or where the funds will be spent.
Under the halt, company shares will be paused until Monday, October 4, or when more details are released to the market.
XTEK provides a range of products to deliver tailored solutions to the government, law enforcement, military, space and commercial sectors.
Earlier this month, XTEK received a purchase order of US$1.39 million (A$1.93 million) from the Australian Government’s Department of Defence.
The order is for the supply of spare parts to support the ongoing operations of small unmanned aerial systems (SUAS) used by Australia’s defence force.
The items will be delivered in the third quarter of the 2022 financial year.
On the market, XTEK last traded at 36.5 cents per share.