Electro Optic Systems (ASX:EOS) - CEO, Ben Greene
CEO, Ben Greene
Source: Electro Optic Systems
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  • Electro Optic Systems (EOS) places its shares in a trading halt in regards to an upcoming capital raising
  • The defence and space company will remain in the halt until Thursday, June 30 or when more details are released, whichever occurs first
  • In May, EOS entered a collaboration with Nova Systems, Gilmour Space, UTS Tech Central and the Federal and NSW governments to establish the Australian Satellite Manufacturing Hub
  • The hub will be located in NSW and will enable research and development collaborations as well as the design, prototype, manufacture, integration and testing of large satellites
  • Shares in EOS last traded at $1.54 on June 27

Electro Optic Systems (EOS) has placed its shares in a trading halt in regards to an upcoming capital raising.

The defence and space company will remain in the halt until Thursday, June 30 or when more details are released, whichever occurs first.

EOS is yet to disclose how much it intends to raise or what it will use the funds for once received.

On May 17, EOS entered a collaboration with Nova Systems, Gilmour Space, UTS Tech Central and the Federal and NSW governments to establish the Australian Satellite Manufacturing Hub (ASMH).

The ASMH is for satellites up to 500 kilograms and will be specifically designed for Earth Observation satellite missions that align with the Federal Government’s space objectives.

The hub will be located in South Jerrabomberra, New South Wales.

EOS last tapped investors for cash in April 2020 when it raised $134 million via a placement.

The funds were raised through the issue of more than 28.26 million shares at a price of $4.75.

EOS said it would use the funds for liquidity and fund ongoing projects.

Shares in EOS last traded at $1.54 on June 27. The company has a $232.4 million market cap.

EOS by the numbers
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