Micro-X Ltd (ASX: MX1), a leader in cold cathode x-ray technology, has secured a strategic partnership with Malaysian scanning specialist Billion Prima Sdn Bhd. As part of the deal, Billion Prima will make a AU$2.4 million strategic equity investment at AU$0.09 per share, a 15% premium to the last traded price of AU$0.078. Additionally, the two companies have entered into an AU$3.2 million agreement to commercialize a baggage and parcel scanning unit using Micro-X’s NEX Technology. Billion Prima will have exclusive manufacturing and sales rights for the unit in South-East Asia for 20 years.
This partnership will provide Micro-X with a total cash inflow of AU$5.6 million, including AU$3.4 million by February 12, 2025. The deal strengthens Micro-X’s balance sheet and creates long-term revenue opportunities while allowing it to retain full ownership of its core IP. The company is also exploring further security partnerships beyond South-East Asia.
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