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- Titomic (TTT) enters a mid-week trading halt while it finalises arrangements in relation to an upcoming capital raising
- The company will remain in the halt until October 15 or when an announcement is released, whichever occurs first
- On August 27, Titomic received a $2.32 million grant from the Federal Government to manufacture space vehicle demonstrator parts
- The company will use the grant to manufacture and commercialise low carbon emission titanium parts for the Australian space sector and export markets
- Shares in Titomic last traded at 29 cents on October 11
Titomic (TTT) has entered a mid-week trading halt while it finalises arrangements in relation to an upcoming capital raising.
The company will remain in the halt until October 15 or when an announcement is released, whichever occurs first.
Titomic is yet to disclose how much it intends to raise or what it will use the funds for once received.
On August 27, Titomic received a $2.32 million grant from the Federal Government to manufacture space vehicle demonstrator parts.
The company will use the grant to manufacture and commercialise low carbon emission titanium parts for the Australian space sector and export markets.
The grant is part of a $4.65 million project that will give Titomic the opportunity to use its Kinetic Fusion cold spray technology to build and commercialise space vehicle parts using green titanium, heterogeneous material blends and high-performance coatings.
The grant runs until December 2022 at which point Titomic will team up with commercial partners to provide specific application use.
Shares in Titomic last traded at 29 cents on October 11. The company has a $44.44 million market cap.
