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Australian hi-tech company Micro-X Ltd (ASX:MX1) a leader in x-ray technology for health and security markets globally, is pleased to announce a strategic collaboration with Varex Imaging the world’s largest independent manufacturer of x-ray technology components. The collaboration comprises an exclusive global licence for a non-refundable fee of $7.5M enabling Varex to use Micro-X’s NEX technology in the field of multi-beam x-ray tubes, and an equity subscription to achieve a 9.9% shareholding in Micro-X totalling $7.5M at a 10% premium to the 15-day volume weighted average price. Shares are trading 25.9 per cent higher at 17 cents.
Following the completion of the Ovato transaction, IVE Group (ASX:IGL) today announced a capital raise. The company intends to raise $20 million by an institutional placement and a share purchase plan. The purpose of the raise is to preserve the company’s ability to pursue growth initiatives and acquisitions, and to strengthen IVE’s institutional shareholder base. Shares under the placement and SPP will be issued at $2.25, and the placement will result in about 8 million new shares.
Origin Energy (ASX:ORG) have announced to the market that they will divest their 77.5% interest in the exploration assets they currently hold in the Beetaloo Basin having executed agreements with a consortium led by Tamboran Resources (ASX:TBN). The sale is part of Origin’s broader strategy to exit all exploration activities over time. Tamboran are in a trading halt pending the completion of a capital raising which is understood to involve overseas investors – likely to be Tamboran’s existing strategic shareholders. The deal is indicated to involve a payment of $60million to Origin as well as ongoing 5.5% royalty payments. Importantly, Origin have also executed a gas sales agreement with Tamboran for up to 36.5 Petajoules per annum over 10 years – an important indicator of the potential commerciality of the Beetaloo Basin. Shares are trading 0.2 per cent lower at $5.80.
