Tivan Limited's successful capital raise

Tivan Limited (ASX: TVN), a company specializing in critical minerals, has successfully raised $1.155 million through a shortfall offer. This was achieved by placing shortfall shares related to their recent pro-rata entitlement offer, drawing interest from retail and high net worth investors.

Tivan Limited's strategic financial steps

Tivan Limited's recent capital raise through the shortfall offer is a strategic move to support its initiatives and operational needs. With the successful placement of 23,100,000 New Shares and 11,550,000 New Options, Tivan has managed to reduce the shortfall from its prior entitlement offer. The funds will aid in advancing the company's objectives in the critical minerals sector. The issuance of new shares and options is planned for 20 November 2024, and Tivan intends to seek ASX quotation for these securities. The remaining shortfall still poses an opportunity for further funding, showcasing Tivan's proactive approach in securing its financial footing.

Executive commentary on Tivan's financial move

The Company has successfully raised $1.155 million by placing 23,100,000 New Shares and 11,550,000 New Options, reducing the shortfall.