** Shares of Structural Monitoring Systems fall as much as 24.6% to A$0.52, their largest intraday drop since late March 2020
** Aviation services provider receives binding commitments to raise A$5 million ($3.29 million) via a placement
** Placement issue price at A$0.52 per share, a 24.6% discount to last close
** Says funds will be used for the product development and manufacturing capacity expansion
** Stock hits lowest since July 15
** More than 116,000 shares change hands, 2.3 times the 30-day avg
** SMN up 13.1% YTD, including current session's moves
($1 = 1.5198 Australian dollars)
(Reporting by Nikita Maria Jino in Bengaluru)
((Nikita.Jino@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.