DXN secures $7M placement for AI infrastructure

DXN (ASX:DXN) secured binding commitments to raise $7 million (before costs) through a strongly supported share placement to new and existing sophisticated institutional investors.

The equity raise is structured at an issue price of $0.13 per share.

The capital injection follows the company’s recently announced binding $8.8 million maiden high-performance computing modular data centre contract with a US-listed neo-cloud operator, which was finalised on June 3.

The freshly raised capital will directly fund the delivery and manufacture of this significant AI HPC contract.

The proceeds are earmarked to scale up DXN’s manufacturing capacity and capabilities within Southeast Asia, ensuring the company can adequately support its growing customer pipeline.

The expansion positions DXN to capitalise on accelerating global demand for modular, rapidly deployable, and high-density AI compute infrastructure.

Commenting on the capital raise, Shalini Lagrutta, Managing Director of DXN, emphasised that the placement arrives at a defining moment for the company.