Atomos Ltd. (AU:AMS) has released an update.
Atomos Ltd. announces unaudited Q3 FY24 sales of $8.5m amidst a traditionally slow quarter, offset by higher professional service costs leading to a net operating cash outflow of $3.7m. The company is gearing up for growth with the launch of two innovative products, Ninja Phone and Sun Dragon, in June 2024, and has initiated a capital raise of up to $16m to strengthen its financial position. This fundraising includes both a shareholder entitlement offer and a placement to institutional and professional investors, pending approval at the upcoming EGM.
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