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An update from Alexium International Group ( (AU:AJX) ) is now available.
Alexium International Group has closed its non-renounceable entitlement issue, offering eligible shareholders 3.4414 new shares for every five held at an issue price of $0.006 per share. The offer raised approximately $6.77 million through valid applications for 1.13 billion new shares, allowing the company to reduce its debt by about $4.6 million and leaving around $2.1 million in cash to fund the Microtek asset purchase and working capital, with directors and management subscribing for roughly $4.58 million and underwriters and sub-underwriters taking up the remaining shortfall, reinforcing the company’s capital structure and supporting its expansion plans.
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 a performance chemicals provider specialising in advanced materials applications, with a focus on flame retardancy and thermal management. Its patent-protected technologies are used across key markets including bedding, body armour, military uniforms and workwear, under brands such as AlexiCool, AlexiFlam, Eclipsys, BioCool and DelCool.
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$19.36M
See more data about AJX stock on TipRanks’ Stock Analysis page.