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An update from Alexium International Group ( (AU:AJX) ) is now available.
Alexium International Group Limited has completed the acquisition of the microencapsulation phase change materials business and associated intellectual property of Microtek Holdings, Inc., issuing 361,717,485 new shares as consideration and making Microtek approximately an 11.5% shareholder. The transaction, alongside a fully underwritten entitlement offer that raised about $6.77 million to fund acquisition costs, repay shareholder loans and support working capital, transforms Alexium into a fully integrated manufacturer of phase change material cooling solutions for global bedding and furniture customers and marks a pivotal growth milestone welcomed by the company’s board, management and new U.S.-based team members.
The most recent analyst rating on (AU:AJX) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Alexium International Group stock, see the AU:AJX Stock Forecast page.
More about Alexium International Group
Alexium International Group Limited is an ASX-listed performance chemicals provider specialising in advanced materials applications, with a focus on flame retardancy and thermal management. Leveraging patent-protected technologies, its high-performance products are tailored for markets including bedding, body armour, military uniforms and workwear, marketed under brands such as AlexiCool, AlexiFlam, Eclipsys, BioCool and DelCool.
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$21.89M
Learn more about AJX stock on TipRanks’ Stock Analysis page.