Battery technology leader Talga Group (ASX:TLG) has raised $7.3 million through an oversubscribed share purchase plan, significantly exceeding its initial $5 million target.
The company announced it will accept all oversubscriptions following the offer’s close on Jan. 23, which saw participation from approximately 5% of eligible shareholders across Australia, New Zealand, and Singapore.
Under the terms of the plan, investors subscribed at $0.41 per share, with participants receiving one free unlisted attaching option for every two shares allocated.
These funds are earmarked to accelerate Talga’s graphite anode production, specifically funding a final engineering study for a 5,000 tpa ramp-up in capacity, alongside advancing US market opportunities and increasing product supply to global battery customers.