MX1.ASX: MX1 - $2.7M Retail Offer Opens

MX1 - $2.7M Retail Offer Opens

Stock	Micro-X Ltd (MX1.ASX)
Release Time	13 Feb 2025, 8:29 a.m.
Price Sensitive	Yes

This feature provides summaries of price-sensitive announcements for companies followed by users on InvestorPA. The summaries are generated by large language models so please interpret with care.

MX1 - $2.7M Retail Offer Opens

Key Points

Micro-X Ltd launches $6.0m capital raising
Retail Entitlement Offer to raise $2.7m
Offer price of $0.07 per new share

Full Summary

Micro-X Ltd (ASX:MX1) has announced the opening of a $2.7 million Retail Entitlement Offer as part of a $6.0 million capital raising. The capital raising comprises a $2.0 million placement to institutional and sophisticated investors and the Entitlement Offer to raise approximately $4.0 million, each at $0.07 per share. This capital raising follows a $2.4 million strategic placement to Billion Prima Sdn Bhd at $0.09 per share. Under the Retail Entitlement Offer, eligible shareholders in Australia and New Zealand can subscribe for 1 new share for every 10 shares held as at the record date of 7:00pm (AEDT) on Monday, 10 February 2025. The offer is non-renounceable and will include a 'top-up' facility allowing eligible shareholders who take up their full entitlement to apply for additional new shares up to 400% of their entitlement. The Retail Entitlement Offer opens on 13 February 2025 and closes on 28 February 2025.