Micro-X Limited's Share Purchase Plan (SPP) Offer Announcement

Micro-X Limited (ASX: $MX1) has announced a Share Purchase Plan (SPP) offer to raise approximately $1 million, with the ability to accept oversubscriptions of up to $1.5 million. The SPP Offer is not underwritten and will provide Eligible Shareholders in Australia and New Zealand with the opportunity to participate for up to a maximum of $30,000 per Eligible Shareholder. Additionally, the company is offering Placement Options to Institutional Investors on the basis of one free unquoted attaching New Option for every two Placement Shares issued. The issue of New Options under the Offers is subject to Shareholder approval, which is being sought at a general meeting of the Company to be held on or around 29 May 2024.

Executive Commentary on SPP Offer and Placement Options

The company's ability to pursue the commercial opportunities being targeted will be substantially enhanced by the participation of Shareholders in the SPP Offer. The company is focused on commercializing and developing innovative applications within global health and security markets, based on its proprietary cold cathode, carbon nanotube (CNT) emitter technology. The funds raised will allow the company to commence key commercial activities, including accelerating the commercial launch of its Argus product and strategic partnering initiatives.

Summary of SPP Offer and Company's Ambitions

Micro-X Limited is offering a Share Purchase Plan (SPP) to raise approximately $1 million, with the ability to accept oversubscriptions of up to $1.5 million. The company aims to enhance its commercial opportunities in global health and security markets through the funds raised. Shareholder approval is being sought at a general meeting of the Company to be held on or around 29 May 2024. The company's ambitions include accelerating the commercial launch of its Argus product and strategic partnering initiatives, leveraging its proprietary cold cathode, carbon nanotube (CNT) emitter technology.