Orbit Communications Systems’ high-precision aeronautical telemetry system has been selected by the armed forces of an undisclosed Asian country.
Under a $5m contract, the company will deliver a telemetry system comprising of a 5m S-band antenna and a ground control station.
Scheduled to be delivered in 2019, the system will be used to provide real-time monitoring of environmental conditions at test ranges.
Electro Optic Systems Holdings Limited has raised A$59.93m ($47.46m) through the private placement of shares with the aim of investing for business growth.
Gross proceeds of A$30.41m ($24.08m) were raised in the first tranche of 10,471,434 shares issued at A$2.91 ($2.31) each.
In the second sum of the offering, the company issued 10,147,123 shares priced at A$2.91 ($2.31) a share to raise A$29.52m ($23.38m).
The company further raised A$5m ($3.36m) by issuing 1,718,214 ordinary shares at a price of A$2.91 ($2.31) a share, through a share purchase plan.
Petra Capital Pty Ltd was the lead manager and book-runner for the private placement.
The US European Command’s (EUCOM) Joint Training and Exercise Division has contracted Cubic Global Defense (CGD) to support its joint exercise program (JEP).
CGD will provide analytical support services including training and exercise for the JEP and components’ Title X exercises.
The company will deliver joint training for forces to strengthen strategic partnerships.