IperionX halts trading ahead of potential capital raise announcement
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The news: Shares in titanium alloy manufacturer IperionX have entered a trading halt ahead of an announcement regarding a proposed capital raise.
The numbers: IperionX shares last closed at $5.30 and have increased by 144.2% over the last 12 months.
The context: Last month, IperionX secured a USD99 million ($152.5 million) contract through the US Department of Defense’s small business innovation research (SBIR) program for the delivery of fasteners like nuts, bolts and screws from its facility in Virginia.
The contract allows any US government department to procure parts from IperionX without needing to undertake a separate tender process.
The source: ASX
