Welcome to our dedicated page for Astrotech Corporation (DE) news (Ticker: ASTC), a resource for investors and traders seeking the latest updates and insights on Astrotech Corporation (DE) stock.
Astrotech Corporation (DE) Common Stock (symbol: ASTC) is a pioneering science and technology development company. The firm is renowned for its commitment to inventing, acquiring, and commercializing cutting-edge technological innovations sourced from internal research, universities, laboratories, and research institutions. Astrotech's diverse operations span several key sectors, including airport security, military applications, breath analysis, and agriculture.
One of Astrotech's flagship ventures is 1st Detect, which specializes in the development, manufacturing, and sale of advanced chemical analyzers. These tools are instrumental in enhancing security measures at airports and military installations, as well as in medical diagnostics through breath analysis. The company's TRACER 1000™, a mass spectrometry-based trace analyzer, has recently expanded its detection library to include narcotics such as fentanyl, heroin, and cocaine, highlighting its significant role in combating drug trafficking and ensuring public safety.
Another innovative branch of the company is AgLAB, which focuses on developing mass spectrometers for the agriculture market. The AgLAB's Maximum Value Process™ has demonstrated a remarkable 32% average increase in revenue, underscoring its efficacy in optimizing agricultural outputs and enhancing profitability for farmers and agribusinesses.
Astrotech continues to innovate with its latest venture, Pro-Control, Inc., a wholly owned subsidiary formed to leverage the ATi Mass Spectrometer Technology for chemical manufacturing process control applications. The introduction of the Pro-Control Maximum Value Process™ (Pro-Control MVP™) and the Pro-Control-1000™ mass spectrometer reflects Astrotech's commitment to delivering value through improved yield, potency, purity, and weight measurements in chemical manufacturing processes.
With a history of over 110 years, Astrotech has built a solid reputation based on its ability to provide reliable equipment and solutions that drive business efficiencies. The company is known for its global service and superior parts availability, ensuring long-term operational success for its clients. By visiting Telsmith, customers can learn more about how Astrotech's innovative products and services can enhance the performance of their operations.
Astrotech's commitment to innovation and excellence is further evidenced by its recent listing as an approved United States Government Vendor on the General Services Administration (GSA) schedule, opening new avenues for government contracts and partnerships.
For the latest updates and detailed information about Astrotech's performance, ongoing projects, and recent achievements, investors and stakeholders are encouraged to stay informed through the latest news releases and company announcements.
Astrotech Corporation (NASDAQ: ASTC) reported financial results for Q2 FY2021, ending December 31, 2020, raising $37 million in gross proceeds to enhance growth. The company focuses on expanding its TRACER 1000 explosives trace detector sales, launching the AgLAB-1000-D2 in the hemp industry, and developing the BreathTest-1000 with The Cleveland Clinic Foundation. Notable achievements include exceeding $1 million in purchase orders for the TRACER 1000 and recognition with a Gold Award for CBRNE Detection. SG&A and R&D expenses were reduced significantly, contributing to improved financial flexibility.
Astrotech Corporation (NASDAQ: ASTC) has successfully completed a registered direct offering of 2,845,535 shares of common stock at a price of $3.25 per share, yielding approximately $9.25 million in gross proceeds. The funds will be utilized for ongoing operating expenses and working capital. The offering was facilitated by H.C. Wainwright & Co., under a previously established shelf registration statement with the SEC.
Astrotech Corporation (NASDAQ: ASTC) has announced a registered direct offering to institutional investors, selling 2,845,535 shares at $3.25 each, expecting gross proceeds of approximately $9.25 million, set to close around February 16, 2021. The funds will be allocated for operating expenses and working capital. H.C. Wainwright & Co. is the exclusive placement agent.
The offering is conducted under a previously filed shelf registration statement, and details will be included in a prospectus available through the SEC.
Astrotech Corporation (NASDAQ: ASTC) reported Q1 FY2021 results, highlighting strategic capital raises totaling $24.2 million to enhance growth opportunities. The company continues to market its TRACER 1000™ explosives trace detector, securing over $1 million in purchase orders. Significant advancements include non-detection testing completion with the TSA, positioning TRACER 1000 for approval. Furthermore, partnerships are established with Cleveland Clinic for the BreathTest-1000™, aimed at rapid infection screening. SG&A and R&D expenses are down, with a reduced monthly cash outlay of $493 thousand.
Astrotech Corporation (NASDAQ: ASTC) has successfully completed a registered direct offering of 2,887,906 shares of its common stock at $2.15 per share, totaling approximately $6.2 million in gross proceeds. The funds will support ongoing operating expenses and working capital. The offering was managed by H.C. Wainwright & Co., utilizing a previously filed shelf registration statement. This capital raise aims to bolster the company's financial standing as it continues to develop innovative technologies in various sectors.
Astrotech Corporation (NASDAQ: ASTC) announced a registered direct offering of 2,887,906 shares at $2.15 each, totaling gross proceeds of $6.2 million, expected to close around October 30, 2020. H.C. Wainwright & Co. is the exclusive placement agent for the offering. The funds will be allocated to ongoing operating expenses and working capital. This offering is conducted under a previously filed shelf registration statement with the SEC.
Astrotech Corporation (NASDAQ: ASTC) announced that its subsidiary, 1st Detect, has secured over $1 million in purchase orders and similar commitments for its TRACER 1000™ explosives trace detector. This technology is currently operational at multiple DHL locations across eight countries in Europe and Asia. The TRACER 1000 is distinguished as the only certified ETD utilizing mass spectrometry, having passed rigorous testing from regulatory bodies like the ECAC and TSA. Executives highlight the growth potential in the recovering transportation sector and areas where high-performance detection is critical.
Astrotech Corporation (NASDAQ: ASTC) has successfully completed a public offering of 7,826,086 shares of common stock at $2.30 per share, generating approximately $18 million in gross proceeds.
The funds will be utilized for ongoing operating expenses and working capital. H.C. Wainwright & Co. served as the exclusive placement agent for the offering. The shares were offered under two SEC registration statements, providing a compliant pathway for this capital raise.
Astrotech Corporation (Nasdaq: ASTC) has announced the pricing of a public offering of 7,826,086 shares of common stock at $2.30 per share, expecting gross proceeds of approximately $18 million. The offering is anticipated to close around October 23, 2020, subject to customary conditions. H.C. Wainwright & Co. is the exclusive placement agent. Proceeds will be used for ongoing operating expenses and working capital. The securities are offered under effective registration statements filed with the SEC.
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