• $3.3m raised through $2.0m placement and $1.3m institutional entitlement offer
• Launch of $2.7m retail entitlement offer
• Support from existing substantial shareholders
• Directors and management participated in placement

Micro-X Ltd, an Australian hi-tech company, has successfully completed a $3.3m capital raising through a $2.0m placement and $1.3m institutional entitlement offer, with an additional $2.7m targeted under a retail entitlement offer. The capital raising is in addition to a $2.4m strategic placement to Billion Prima at 9.0 cents per share, bringing the total secured to $5.7m. The new funding will be used to fund Micro-X's revised strategy and focus on medical imaging, with the company's current security applications to be monetised via strategic partnerships. The company's focus on medical imaging is underpinned by a $25m development contract with ARPA-H to develop a lightweight, ruggedised full body medical CT device. The placement and institutional entitlement offer saw strong support from two of the company's substantial shareholders, with all directors and key management participating. The retail entitlement offer will open on 13 February 2025 and close on 28 February 2025, with eligible shareholders able to apply for 1 new share for every 10 shares held.

Micro-X has secured $5.7m in total funding, which will be used to fund the company's focus on medical imaging. This includes $3.3m from the placement and institutional entitlement offer, and an additional $2.4m from a strategic placement to Billion Prima.