On December 15, 2022, Micro-X Limited closed the transaction. As part of the transaction, Andrew Hartmann of Varex Imaging Corporation joined the company's board of directors. The transaction has been approved by Foreign Investment Review Board.

On the same date, the company issued 26,929,000 ordinary shares at an issue price of AUD 0.147 for gross proceeds of AUD 3,958,563 as its second and final tranche.