AML3D Ltd (AU:AL3) has released an update.
AML3D Ltd is poised to raise $3.9 million through a non-renounceable rights issue to expand its U.S. operations and invest in software and technology enhancements, particularly for the defense sector. Eligible shareholders are offered to buy one new share at $0.05 each for every three shares held, at a significant discount from the recent share price. The funds will be used to establish a U.S. manufacturing facility and to advance the company’s Wire-Arc Additive Manufacturing solutions.
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