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X2M Connect Limited ( (AU:X2M) ) has shared an update.
X2M Connect Limited has successfully completed a capital raise, generating approximately $5.4 million through the placement of shortfall shares and an additional placement due to oversubscription. This financial boost strengthens X2M’s balance sheet, allowing it to eliminate debt and position itself for growth in Australia and new markets. The company is set to expand across Asia and the Middle East, advancing its AI energy solutions and accelerating commercialization in key markets.
More about X2M Connect Limited
X2M Connect Limited is an Australian technology company specializing in Internet of Things (IoT) solutions for the utilities sector. The company offers products that enhance productivity, reduce costs, and improve public safety for enterprise and government clients. X2M focuses on data collection, analytics, and device control, targeting the growing demand in artificial intelligence, renewable energy, and battery storage markets. It has connected over half a million devices and operates in the Asia-Pacific region with plans for global expansion.
Average Trading Volume: 1,160,860
Technical Sentiment Signal: Sell
Current Market Cap: A$9.14M
See more insights into X2M stock on TipRanks’ Stock Analysis page.