RocketDNA trading halt details

RocketDNA Ltd (ASX:RKT) has requested a trading halt on its securities. This halt is effective immediately as the company prepares for an impending announcement related to capital raising. The trading halt will remain in place until the announcement is made or normal trading resumes on 30 October 2024. RocketDNA is a provider of drone-based data services and technology solutions, with a focus on industries like mining, agriculture, and engineering.

RocketDNA's strategic move and future outlook

RocketDNA Ltd has initiated a trading halt on its securities to prepare for an upcoming announcement concerning capital raising. This halt is a strategic step to manage the dissemination of information regarding their financial plans. RocketDNA operates as a drone-based data service and technology provider, primarily serving the mining, agriculture, and engineering sectors in Australia and Africa. The company has a strong clientele, including major players like South32, Newmont, Vault Minerals, and Seriti Coal, and generates revenue through multi-year contracts and short-term projects. The forthcoming announcement is expected to outline their capital raising strategies and how it aligns with their growth objectives. Stakeholders await further details, which will potentially impact the company's operations and market presence.

Executive insight on trading halt

The decision to implement a trading halt is a strategic measure to ensure all our stakeholders receive the forthcoming announcement in an orderly manner.