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Orbital Corporation Limited ( (AU:OEC) ) has shared an announcement.
Orbital Corporation Limited has successfully completed a share placement, issuing 14,285,714 fully paid ordinary shares at $0.21 each to sophisticated investors, raising $3 million. This strategic move, executed under the company’s existing placement capacity, strengthens Orbital’s financial position and supports its operations in the UAV market, potentially enhancing its industry standing and stakeholder value.
More about Orbital Corporation Limited
Orbital UAV provides integrated propulsion systems and flight-critical components for tactical unmanned aerial vehicles (UAVs). The company leverages its design thinking and patented technology to meet the long endurance and high reliability requirements of the UAV market, with operations in Australia and the United States.
Average Trading Volume: 592,106
Technical Sentiment Signal: Buy
Current Market Cap: A$37.08M
For an in-depth examination of OEC stock, go to TipRanks’ Overview page.