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RC Fornax plc ( (GB:RCFX) ) has shared an announcement.
RC Fornax plc has announced a proposed fundraising initiative to raise a minimum of £2.25 million through a Placing and up to £0.5 million through a Retail Offer. The funds will be used to develop the Procure X Marketplace, a self-serve platform connecting SMEs with defense buyers, and to support working capital for potential contract wins. This move comes as the company seeks to capitalize on increased market access and new commercial agreements, despite reporting a decrease in revenue and a loss before tax for FY25. The development of Procure X is part of RC Fornax’s strategy to address inefficiencies in the defense procurement ecosystem and expand its market reach.
More about RC Fornax plc
RC Fornax plc is a UK-based consultancy specializing in high-impact engineering solutions for critical military platforms. The company focuses on delivering scalable and accredited services within the defense sector, aiming to align with next-generation defense priorities.
Average Trading Volume: 423,942
Technical Sentiment Signal: Strong Sell
Current Market Cap: £5.58M
For detailed information about RCFX stock, go to TipRanks’ Stock Analysis page.