Wide Open Agriculture (ASX:WOA) secured binding firm commitments from institutional and sophisticated investors to raise AU$6.11 million, before costs, under tranche two of its placement, the firm said in a Thursday filing with the Australian bourse.
Tranche one of the placement raised AU$890,000.
Tranche two is offered at an issue price of AU$0.02 per share, the filing said.
The release of tranche two placement shares and options awaits shareholder approval, which is expected to take place in an early July general meeting, it said.
Shares of the company jumped 10% in recent trade.
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