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- Robotics company FBR (FBR) enters a trading halt as it plans for an upcoming capital raise
- The company is yet to announce how much it plans to raise or where it will spend the funds
- The halt means company shares will be paused until Friday, June 17, or when further details about the raise are released to the market
- FRB owns the world’s first fully automated robotic bricklayer, Hadrian X
- FBR shares last traded at two cents per share on June 14
FBR (FBR) has entered into a mid-week trading halt as it plans for an upcoming capital raise.
The company has not yet revealed how much it plans to raise or where it will spend the funds.
Under the halt, FBR shares will be paused until Friday, June 17, or when further details about the raise is released to the market.
FRB is a Perth-based robotics company that designed Hadrian X: the world’s first fully automated robotic bricklayer.
Earlier this year, the company secured a $4 million research and development (R&D) tax loan facility with FC Capital.
The facility is in place until the end of 2024 and has an initial interest rate of 8.5 per cent for the rest of 2022, after which it will be lowered to 8.15 per cent per annum.
Additionally, FBR’s subsidiary, Fastbrick Engineering, established a lease finance facility with FC Capital.
The finance facility includes $2.3 million to be split equally between FBR’s two Hadrian X construction robots.
FBR said this facility was the first time it had had lease finance over the Hadrian X robots.
FBR shares last traded at two cents per share on June 14.
