Tirupati Graphite raises £1,045,000 for working capital and production optimisation

Tirupati Graphite plc (LON:TGR, TGRHF.OTCQX), the specialist flake graphite company and supplier of the critical mineral for the global energy transition, has announced it has raised gross proceeds of £1,045,000 by way of a private placing of 9,500,000 new ordinary shares of £0.025 each in the capital of the Company at a placing price of £0.11 per Placing Share (the ‘Placing Price’). The Placing Price represents a discount of 8.33% to the closing mid-market price of £0.12 on 16 January 2024. In respect of the Placing, Optiva Securities Limited acted as sole broker and bookrunner to the Company.

The Placing is conditional only on admission of the Placing Shares to the Standard Segment of the Official List of the Financial Conduct Authority and to trading on the Main Market of the London Stock Exchange, with such admission and trading expected to become effective on or about 8.00 a.m. around 22 January 2024.

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