AFR's Street Talk:...

AFR's Street Talk: /street-talk/titomic-raising-10m-via-pac-partners-and-e-and-p-20211013-p58zkf

ASX-listed Titomic is raising about $10 million priced at 26¢ a share which is a 10 per cent discount to the last traded price.

The offer includes one-for-one options with an exercise price of 40¢ a share and a two-year expiry. On exercising the options, investors will be issued bonus one-for-two attaching options with a June 2024 expiry and a 60¢ exercise price, according to terms sent to potential investors.

Titomic plans to use bulk of the raise at $4.4 million for working capital and costs, followed by a $3 million spend on offshore sales office and operational facilities and lastly, $2.6 million on a joint venture investment.