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Micro-X Ltd. ( (AU:MX1) ) just unveiled an update.
Micro-X Ltd has announced a capital raising initiative of $6.0 million through a placement and entitlement offer, aimed at supporting its strategic focus on medical imaging and achieving cashflow stability. This move is complemented by a $2.4 million strategic investment from Billion Prima, reflecting confidence in Micro-X’s technology and marking a significant partnership for security screening applications in Southeast Asia. The funds will be directed towards medical imaging activities, including the development and commercialization of a lightweight, ruggedized full-body medical CT device, leveraging a substantial development contract with ARPA-H. This strategy aims to enhance Micro-X’s market positioning by focusing on medical imaging while monetizing its security applications through partnerships.
More about Micro-X Ltd.
Micro-X Ltd is an Australian high-tech company specializing in cold cathode x-ray technology, catering to health and security markets worldwide. The company focuses on developing innovative x-ray systems, including mobile x-ray and CT products, and is engaged in strategic partnerships to enhance its security technology.
YTD Price Performance: -2.50%
Average Trading Volume: 473,426
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$45.53M
For a thorough assessment of MX1 stock, go to TipRanks’ Stock Analysis page.
