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Titomic Secures Over AU$750,000 in US Purchase Orders; Shares Down 21%

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Titomic (ASX:TTT) secured new US purchase orders over the past two weeks with an aggregate value of over AU$750,000, according to a Wednesday filing with the Australian bourse.

The purchase orders span the military and commercial space, commercial and military aircraft, and oil and gas markets, per the filing.

The awards provide near-term revenue and indicate customer progression from initial engagement toward repeat and potentially larger-scale opportunities, Titomic said.

Shares of the company, which separately disclosed firm commitments to raise AU$16.5 million via an institutional placement, fell nearly 21% in recent Wednesday trade.

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