Australia's Micro-X falls on discounted placement

Micro-X

17/04/2024 01:39

** Shares of Micro-X Ltd  MX1.AX  fall as much as 16.7% to
A$0.100, on track for worst day since June 2, 2023 - if current
losses hold
    ** Medical equipment maker receives firm commitments to
raise A$4 mln ($2.57 mln) at an issue price of 9.5 Australian
cents per share
    ** Co says issue price is at a 17% discount to stock's last
closing price
    ** Stock hits its lowest level since March 8
    ** Stock had risen more than 14% this year, as of last close

($1 = 1.5586 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))