Trajan Completes $29.7m institutional placement
- Trajan (TRJ) successfully completes a fully underwritten $29.7 million institutional placement
- The placement is issuing around 14.8 million shares at an offer price of $2, representing an 11.1 per cent discount to the last closing price on June 16
- Proceeds from the placement will be used to partially fund the acquisition of Kentucky-based Chromatography Research Supplies (CRS)
- In addition to the placement, the company also aims to raise $5 million via a share purchase plan
- Shares in the company have ended the day down 12.4 per cent, trading at $1.97 at market close
