Micro-X Raises Fresh Capital to Accelerate Medical Imaging Commercialisation
Source: Kapitales Research
Highlights:
Micro-X has secured AU$6.18 million in new capital through a share placement undertaken with professional and sophisticated investors.
Strategic partner Billion Prima increased its stake to 8.6 per cent, committing AU$3.0 million to the raise.
The capital will be used to support medical imaging commercial initiatives, expand manufacturing capacity, and strengthen the company’s working capital position.
Capital Raise Strengthens Funding Position
Micro-X Limited (ASX: MX1) announced it has received commitments totalling AU$6.18 million through a placement priced at AU$0.08 per share. The placement was well received by both new and existing shareholders and executed within the company’s available issuance capacity under ASX Listing Rule 7.1.
The issue price was set at the company’s most recent trading level, representing no discount to the last traded share price and a modest discount to recent volume weighted average prices. Shares issued as part of the placement will hold the same rights as existing ordinary shares, with settlement and trading expected to occur in late December 2025.
Strategic Partner Deepens Commitment
A key feature of the capital raise was the increased participation from security development partner Billion Prima. The group committed AU$3.0 million to the placement, lifting its ownership in Micro-X to approximately 8.6 per cent following completion. As part of the investment, Billion Prima will have the right to nominate a director to the board, subject to customary approvals.
Management described the increased investment as a strong endorsement of Micro-X’s technology platform and its collaboration with Billion Prima, particularly in the development of baggage and parcel scanning solutions that incorporate the company’s proprietary NEX technology.
Focus on Medical Imaging Growth
Proceeds from the placement will primarily be used to accelerate Micro-X’s medical imaging strategy. This includes expanding commercial activities for the Rover mobile X-ray platform, which has recorded increasing sales momentum following a major order from Malaysia and the signing of a supply agreement with a large United States healthcare group.
Funds will also be allocated toward scaling up manufacturing capacity for proprietary X-ray tubes and high-voltage generators. The funding is designed to underpin anticipated increases in Rover sales volumes, support the scheduled 2026 rollout of the Billion Prima baggage and parcel scanner, and progress the Head CT system toward market readiness.
Advancing Head CT and Near-Term Catalysts
Micro-X is also directing capital toward the productisation of its Head CT system ahead of planned in-hospital human imaging trials expected to commence in early 2026. The upcoming trials are viewed as a key milestone in advancing regulatory approval pathways and supporting future commercialisation. The company continues to benefit from substantial non-dilutive funding across its development programs through government grants and strategic partnerships.
Management highlighted several near-term catalysts, including potential large Rover sales opportunities, the commencement of Head CT trials, and ongoing discussions to monetise security technology assets.
Outlook
With additional funding secured, Micro-X enters the next phase with enhanced balance sheet strength and increased capacity to execute its commercial and development priorities. Investor attention is likely to remain focused on Rover sales conversion, progress in Head CT trials, and developments around security technology partnerships as the company works toward cash flow stability and longer-term growth.
Disclaimer for Kapitales Research
The materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
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Micro-X Raises Fresh Capital to Accelerate Medical Imaging Commercialisation
Highlights:
Capital Raise Strengthens Funding Position
Micro-X Limited (ASX: MX1) announced it has received commitments totalling AU$6.18 million through a placement priced at AU$0.08 per share. The placement was well received by both new and existing shareholders and executed within the company’s available issuance capacity under ASX Listing Rule 7.1.
The issue price was set at the company’s most recent trading level, representing no discount to the last traded share price and a modest discount to recent volume weighted average prices. Shares issued as part of the placement will hold the same rights as existing ordinary shares, with settlement and trading expected to occur in late December 2025.
Strategic Partner Deepens Commitment
A key feature of the capital raise was the increased participation from security development partner Billion Prima. The group committed AU$3.0 million to the placement, lifting its ownership in Micro-X to approximately 8.6 per cent following completion. As part of the investment, Billion Prima will have the right to nominate a director to the board, subject to customary approvals.
Management described the increased investment as a strong endorsement of Micro-X’s technology platform and its collaboration with Billion Prima, particularly in the development of baggage and parcel scanning solutions that incorporate the company’s proprietary NEX technology.
Focus on Medical Imaging Growth
Proceeds from the placement will primarily be used to accelerate Micro-X’s medical imaging strategy. This includes expanding commercial activities for the Rover mobile X-ray platform, which has recorded increasing sales momentum following a major order from Malaysia and the signing of a supply agreement with a large United States healthcare group.
Funds will also be allocated toward scaling up manufacturing capacity for proprietary X-ray tubes and high-voltage generators. The funding is designed to underpin anticipated increases in Rover sales volumes, support the scheduled 2026 rollout of the Billion Prima baggage and parcel scanner, and progress the Head CT system toward market readiness.
Advancing Head CT and Near-Term Catalysts
Micro-X is also directing capital toward the productisation of its Head CT system ahead of planned in-hospital human imaging trials expected to commence in early 2026. The upcoming trials are viewed as a key milestone in advancing regulatory approval pathways and supporting future commercialisation. The company continues to benefit from substantial non-dilutive funding across its development programs through government grants and strategic partnerships.
Management highlighted several near-term catalysts, including potential large Rover sales opportunities, the commencement of Head CT trials, and ongoing discussions to monetise security technology assets.
Outlook
With additional funding secured, Micro-X enters the next phase with enhanced balance sheet strength and increased capacity to execute its commercial and development priorities. Investor attention is likely to remain focused on Rover sales conversion, progress in Head CT trials, and developments around security technology partnerships as the company works toward cash flow stability and longer-term growth.
Disclaimer for Kapitales Research
The materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au