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Electro Optic Systems Holdings Limited ( (AU:EOS) ) has provided an update.
Electro Optic Systems Holdings Limited has successfully completed the sale of EM Solutions Pty Limited to Cohort plc for $158.6 million, exceeding the initially announced value due to higher estimated contract balances. The company has used part of the proceeds to fully repay its debt to Washington H. Soul Pattinson, leaving it with no borrowings and a strong cash position of approximately $128.0 million, along with $48.0 million in restricted cash. This divestment allows EOS to focus on its core Defence and Space Systems operations, strengthening its financial position and potentially enhancing its market offerings.
More about Electro Optic Systems Holdings Limited
Electro Optic Systems Holdings Limited (EOS) operates in the Defence Systems and Space Systems sectors. The Defence Systems division focuses on technology for weapon systems optimization, integration, and ISR (Intelligence, Surveillance, and Reconnaissance) systems, offering products such as remote weapon systems and high-energy laser weapons. The Space Systems division applies EOS-developed optical sensors for space object detection and tracking, and has capabilities in space control.
YTD Price Performance: -4.62%
Average Trading Volume: 52,025
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $141.4M
Learn more about EOS stock on TipRanks’ Stock Analysis page.
