ASX-listed modular and prefabricated data centre provider DXN said it successfully completed a $6.5 million placement with institutional investors, at $0.07 per share.
The funding, and reduction of debt, will be used to upgrade DXN's Darwin facility and also for modular data centre innovation, loan repayment to hybrid credit fund manager Pure Asset Management, and to provide working capital and operations expenses.
"DXN has experienced strong interest in the capital raise, underscoring the market's belief that the data centre industry's tailwinds will drive increased demand for prefabricated modular data centres and edge data centre deployments," DXN chief executive Shalini Lagrutta said.
"With this capital, and the Company's newly restructured business which has posted its first-ever positive EBITDA result in FY24, we are positioned for growth in new geographical markets and in response to customer demand, developing new prefabricated modular data centre product lines, specifically high-density Artificial Intelligence workloads," Lagrutta added.
DXN acquired the Darwin Secure Data Centre in 2021, for $4.88 million.
-1.jpg&w=100&c=1&s=0)
.png&w=100&c=1&s=0)
