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- HSC Technology (HSC) places its shares in a trading halt in regards to an upcoming capital raising
- The company’s shares will remain in the halt until the earlier of June 1 or when an announcement with further details is released to the market
- In early April, HSC announced it had received an initial purchase order from VitalCALL/Chubb for 5000 personal emergency response systems
- Initial revenue for the 5000 units was forecast at more than $1.6 million and if further orders are received the total will be significantly enhanced
- Shares in HSC last traded at 1.1 cents on May 27
HSC Technology (HSC) has placed its shares in a trading halt in regards to an upcoming capital raising.
The company’s shares will remain in the halt until the earlier of June 1 or when an announcement with further details is released to the market.
HSC is yet to disclose how much it intends to raise or what it will use the money for once received.
In early April, HSC announced it had received an initial purchase order from VitalCALL/Chubb for 5000 personal emergency response systems.
In addition, the agreement included a non-binding order target of 20,000 units, providing a further 15,000 units from VitalCALL.
Initial revenue for the 5000 units was forecast at more than $1.6 million and if further orders are received the total will be significantly enhanced.
HSC last tapped investors for cash in December 2021 when it undertook a $3 million placement to strengthen its balance sheet and boost its working capital.
The money was raised through the issue of more than 176.4 million shares to institutional and sophisticated investors at 1.7 cents.
Shares in HSC last traded at 1.1 cents on May 27. The company has a $22.25 million market cap.
