- Altech Chemicals (ATC) ended the first week of November in a trading halt as it prepares for an equity raise
- So far, just how much the materials stock intends to raise — or even what it'll use the funding for — remains unclear
- However, shareholders should find out more by next Tuesday, November 10
- In its latest financial report, Altech revealed it went cashflow-negative by $642,000 in FY21's opening quarter
- While the September quarter's cash burn was lower than the June quarter, Altech is yet to post customer receipts, meaning its cash outflows are primarily covered by its cash reserves
- As a result, ATC has less than one quarter of funding available to support its operations, which could explain the latest capital raise
- Before it entered the trading halt, ATC shares were trading just shy of the 5-cent mark on Thursday, November 5
Altech Chemicals (ATC) ended the first week of November in a trading halt as it prepares for an equity raise.
Read the full article on The Market Herald here: https://themarketherald.com.au/altech-asxatc-ends-week-in-trading-halt-ahead-of-equity-raise-2020-11-06/
