Xtek seeks $5 million to support armour, drone, software R&D
Xtek is undertaking a $7.7 million capital raise, which will support investment in developing new drones, software and composite armour. The ASX-listed defence contractor announced on Monday that it had raised $2.7 million so far through an institutional placement, and would make a pro-rata non-renounceable entitlement offer to all eligible security holders to raise a…