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The latest announcement is out from Orbital Corporation Limited ( (AU:OEC) ).
Orbital UAV has announced a capital raising of A$3.0 million through the issuance of approximately 14.2 million new shares, aimed at funding business development and upgrading manufacturing and testing capabilities. This strategic move is intended to capitalize on the U.S. Drone Dominance Policy, which presents significant growth opportunities in both military and commercial UAV markets. The funds will support the company’s expansion efforts, including a focus on the U.S. and Asia Pacific regions, and enhance its ability to meet the growing demand for UAV propulsion systems. The company aims to increase shareholder value through these investments and a disciplined approach to market opportunities.
More about Orbital Corporation Limited
Orbital Corporation Limited, also known as Orbital UAV, is a global leader in the design and manufacture of integrated propulsion systems for military drones. The company focuses on enhancing its manufacturing and testing capabilities to support product development and pre-delivery testing, with a market focus on military and commercial UAVs, particularly in light of new opportunities arising from U.S. policy changes.
Average Trading Volume: 504,023
Technical Sentiment Signal: Buy
Current Market Cap: A$51.08M
See more insights into OEC stock on TipRanks’ Stock Analysis page.