Orbital Corporation Limited ( (AU:OEC) ) has issued an update.
Orbital Corporation Ltd has secured a $2 million standby loan facility with its major shareholders, UIL Limited and Boneyard Investments Pty Ltd. This unsecured working capital facility, which is currently undrawn, is intended to support the company’s growth objectives, complementing a recent $2 million rights issue and the repayment of a WA Government loan.
More about Orbital Corporation Limited
Orbital UAV provides integrated propulsion systems and flight critical components for tactical unmanned aerial vehicles (UAVs). The company leverages design thinking and patented technology to meet the long endurance and high reliability requirements of the UAV market, with offices in Australia and the United States to serve a prestigious client base.
YTD Price Performance: 30.0%
Average Trading Volume: 1,000
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $11.25M
For an in-depth examination of OEC stock, go to TipRanks’ Stock Analysis page.
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