Titomic Secures Over AU$750,000 in US Purchase Orders; Shares Down 21%
MT Newswires Live
Sep 02
Titomic (ASX:TTT) secured new US purchase orders over the past two weeks with an aggregate value of over AU$750,000, according to a Wednesday filing with the Australian bourse.
The purchase orders span the military and commercial space, commercial and military aircraft, and oil and gas markets, per the filing.
The awards provide near-term revenue and indicate customer progression from initial engagement toward repeat and potentially larger-scale opportunities, Titomic said.
Shares of the company, which separately disclosed firm commitments to raise AU$16.5 million via an institutional placement, fell nearly 21% in recent Wednesday trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.