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Sprintex Limited ( (AU:SIX) ) has provided an update.
Sprintex Limited has secured A$3.625 million in new funding through the early exercise of options and a share placement, with the placement cornerstoned by Hong Kong-based investment firm MWP Partners and supported by key existing shareholders. The capital injection follows a landmark €15.6 million initial production order from Mest Water, described as the largest in the company’s history, and will be used to repay and extinguish multiple legacy loan facilities, partially reduce a remaining convertible note, and fund execution of near-term commercial opportunities linked to the Mest Water contract and broader uptake of Sprintex’s technology across Europe and other markets, materially strengthening its balance sheet and underpinning its shift toward scaled revenues and profitability.
The most recent analyst rating on (AU:SIX) stock is a Hold with a A$0.08 price target. To see the full list of analyst forecasts on Sprintex Limited stock, see the AU:SIX Stock Forecast page.
More about Sprintex Limited
Sprintex Limited (ASX: SIX) is an Australia-based technology company whose SIX-branded systems are being adopted in European and other international markets, including through a major multi-year production program with water treatment specialist Mest Water. The company is focused on scaling deployment of its technology across Europe and other key regions, with an emphasis on driving recurring revenues and accelerating the path to profitability.
Average Trading Volume: 897,987
Technical Sentiment Signal: Buy
Current Market Cap: A$56.04M
For a thorough assessment of SIX stock, go to TipRanks’ Stock Analysis page.