Stocks of Integrated Media Technology Limited (IMTE) fell 6.55% in premarket trading this morning to trade at $4.71. The Integrated Media stock closed at $5.04 on Monday, up 24.75%. IMTE stock traded 16.67 million shares on Monday, below the 0.95 million share averages published daily for the last 50 days.

In the last five days, IMTE shares have advanced 23.83%; however, they have gained 4.13% in the last month. IMTE stock has gained 29.23 percent so far this year, adding 4.56% over the previous three months. A recent development might give more insight into the IMTE stock since its stock is on a downbeat in the absence of recent news.

Are there any recent developments at IMTE?

Glasses-free 3D is also known as autostereoscopic 3D and is a solution available from Australian company IMTE. Aside from manufacturing and selling nanocoated glass and filters, IMTE is also engaged in financial research businesses.

Integrated Media has entered into three (3) Securities Purchase Agreements with accredited investors in recent weeks.

• IMTE agreed to sell 888,888 ordinary shares of the company’s ordinary shares with no par value, at a price of close to US$3.15 per share.
• A total of US$2,800,000.00 was raised through Cash Offerings by IMTE.
• The net cash proceeds of the Cash Offerings were to be used for working capital and equipment purchases for IMTE’s electronic glass business.
• According to Mr. Con Unerkov, Chairman of IMTE, the offering will strengthen IMTE’s capital base and assist in furthering IMTE’s electronic glass sales.
• The Offering will be made in compliance with IMTE’s shelf registration statement on Form F-3, which was filed with the Securities and Exchange Commission (“SEC”) on October 9, 2018 and became effective on October 19, 2018.
• IMTE is offering Ordinary Shares by means of a prospectus supplement only in the United States.
• As part of the registered direct offering, a prospectus supplement and accompanying prospectus were filed with the SEC on July 7, 2021.
• On the website of the SEC, the prospectus and prospectus supplement relating to the registered direct offering were made available by IMTE.

IMTE’s recent offering:

Integrated Media (IMTE) has recently completed its previously announced direct offering of 708,000 ordinary shares of the Company in March this year. The offering price was USD6.50 per IMTE share with a total offering amount of USD4,602,000.

In the event of the Cash Offering, IMTE received approximately US$4,577,000 in net cash proceeds after deducting estimated expenses incurred during the offering. As part of its plans to establish a strong balance sheet, IMTE wanted to use the net cash proceeds to expand its switchable glass, nano-coated filter, and financial research businesses.