• $6.0m capital raising to fund medical imaging and product development
• Additional $2.4m strategic investment from Billion Prima at premium
• Focus on commercializing security technology through partnerships

Micro-X Ltd, an Australian hi-tech company, is announcing a $6.0m capital raising to fund its strategic focus on medical imaging products and commercialize its security technology through partnerships. The capital raising comprises a $2.0m placement to sophisticated and professional investors and a 1-for-10 non-renounceable entitlement offer to raise up to $4.0m. The offer price of $0.07 per share represents a 10.3% discount to the last close. The company is also receiving a $2.4m strategic investment from Billion Prima, a Malaysian developer of screening products, at $0.09 per share, a 15% premium to the last close. The funds will be used for medical imaging commercial activities, product development, and working capital. Micro-X is pursuing opportunities in medical imaging, including an ongoing evaluation by a major US hospital, as well as monetizing its security technology through partnerships. The company's focus on medical imaging is underpinned by a $25m non-dilutive funding contract from ARPA-H to develop a full-body medical CT device.

Micro-X is focused on realizing value from its security technology through partnerships, while driving commercial outcomes in its medical imaging business, including the development of a lightweight, ruggedized full-body medical CT device with ARPA-H funding.