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- Etherstack (ESK) has entered a trading halt for the purpose of a material capital raising by the way of an institutional placement
- The halt will remain in place until the earlier of December 21 or when an announcement is made
- Earlier in the month, Etherstack entered a $4.1 million technology licensing contract with the Australian Department of Defence
- The contract will see the company supply its technology and delivery services to the Commonwealth of Australia
- Etherstack specialises in wireless communications technologies that serve customers in the defence, mining, utilities, and public safety industries
- Shares in Etherstack last traded at 64 cents on December 16
Etherstack (ESK) has entered a trading halt for the purpose of a material capital raising by the way of an institutional placement.
The halt will remain in place by no later than December 21 or when an announcement is made.
In early December, Etherstack entered a technology licensing contract with the Australian Department of Defence.
This $4.1 million contract will see the company supply its technology and delivery services to the Commonwealth of Australia.
Based in Sydney, Etherstack specialises in wireless communications technologies that serve customers in the defence, mining, utilities, and public safety industries.
Its software enables manufacturers and system integrators to quickly and easily introduce wireless communications products and networks.
“This program builds upon existing Etherstack technology and creates a significant Australian export opportunity to both other nations and international military equipment manufacturers,” CEO David Deacon said at the time.
“The supplied solution is repeatable and the first of its kind that will be compliant to a specific military standard,” he added.
The majority of the money is expected FY21, with some to be received at the end of the company’s financial year on December 31.
Shares in Etherstack last traded at 64 cents on December 16.
