- Robotics technology company FBR (FBR) will raise $16 million through a placement to institutional and sophisticated investors
- Via the raise, FBR will issue over 280.7 million shares priced at 5.6 cents each
- The funds will also used for working capital and to continue progressing its commercialisation strategies
- Specifically, FBR aims to create global wall-as-a-service operating entities to secure strategic partners which will help fund the production of more Hadrian X robots
- Ultimately, FBR wants to be the leader of the only enabling technology for autonomous brick and block wall construction
- After coming out of a trading halt, company shares are trading 7.89 per cent lower for seven cents
