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- Electronic lock developer TZ (TZL) ends week in a trading halt as it plans an upcoming capital raise
- It isn’t yet known how much the company is aiming to raise or how it will spend the money
- Company shares will be paused until Tuesday, November 9, or when details about the capital raise are released
- Earlier this week, TZ has received the first of many purchase orders for the supply of TZ electronics and software services for 2800 smart lockers
- On the market, TZ last traded at 17.5 cents per share on November 4
TZ (TZL) has ended the week in a trading halt as it plans an upcoming capital raise.
It is currently unknown how much the company is planning to raise or how it will spend the money.
Under the halt, company shares will be paused until Tuesday, November 9, or when details about the capital raise are released.
TZ is an Australian-based company that is involved in developing smart electronic locking devices.
Earlier this week, TZ received the first of many purchase orders for the supply of TZ electronics and software services for 2800 smart lockers for the new high-rise Chevron Corporation headquarters in Perth, Western Australia.
This contract follows the company being awarded the tender supply hardware and software solutions to support 2000 smart storage lockers at ASX-lister, CSL’s (CSL) global headquarters in Melbourne.
CEO Mario Vecchio said it’s been a busy first 30 days in his new role.
“It’s been a busy first 30 days but I am excited to develop new client relationships as well as to be continued valued partners for our existing clients,” he said.
“The company is certainly benefitting from changes to the workplace post covid.”
On the market, TZ last traded at 17.5 cents per share on November 4.
