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iCetana Ltd. ( (AU:ICE) ) has issued an announcement.
icetana Limited has announced a renounceable entitlement offer to raise approximately A$2.65 million, with Lance East Holdings Pty Ltd underwriting the offer. The funds will support ongoing sales, marketing, and product development activities. Notably, the offer price represents a premium over recent trading prices. Additionally, icetana is nearing the completion of a proof-of-concept for a significant sales opportunity in Iraq with the Baghdad Safe City project, potentially worth up to US$1.1 million, although no contractual commitment has been confirmed yet.
More about iCetana Ltd.
icetana Limited (ASX: ICE) operates in the artificial intelligence industry, focusing on developing and marketing video analytics solutions. The company’s primary products include AI-driven security systems that aid in anomaly detection and threat prevention, targeting customers such as large-scale city projects.
YTD Price Performance: -25.00%
Average Trading Volume: 543,581
Technical Sentiment Consensus Rating: Hold
Current Market Cap: A$3.97M
Learn more about ICE stock on TipRanks’ Stock Analysis page.
