DMH Stallard advised Optiva Securities as broker to Tirupati Graphite in £10 million equity fundraising.
The fundraising comprised a placing with institutional and other investors of 11,111,111 ordinary shares of £0.025 each in Tirupati at a price of £0.90 per share to raise an aggregate gross amount of £10 million.
Tirupati is a fully integrated, revenue generative, specialist graphite producer and graphene developer with operations in Madagascar and India. The net proceeds of the fundraising will primarily be used to expedite Tirupati’s modular medium-term development plan to take advantage of the strong market demand for its products.
The placing was oversubscribed and is the latest in a number of recent successful fundraisings for which Optiva has been the broker.
Nick Williams (Picture), Nuria Ashmore Barrios and Amber Monaghan from DMH Stallard advised Optiva Securities Limited.
Law Firms: DMH Stallard;
Clients: Optiva Securities Limited;