Terragen Holdings announces successful equity raising

Terragen Holdings (ASX:TGH) has successfully completed the institutional component of its Equity Raising, securing approximately AUD 4.76 million. The funds will support scientific R&D, global commercialization, and working capital.

Terragen's strategic financial move

Terragen Holdings has raised approximately AUD 4.76 million through its institutional equity raising, which includes a Placement and an Entitlement Offer. The funds are earmarked for scientific research and development, expanding global commercialization opportunities, and covering operational costs. The successful completion of the Institutional Offer involved the issuance of around 91.96 million new shares. Key shareholders, including Mr. Scobie Ward, showed strong support by fully subscribing to their entitlements. A Retail Entitlement Offer is also planned to raise an additional AUD 1.54 million, with eligibility extending to retail shareholders in Australia and New Zealand. This financial initiative focuses on strengthening Terragen's capabilities to advance its agricultural products and sustainability goals.

Executive insights on equity raising

This initiative marks a significant step in bolstering our financial resources to fuel our ongoing research and development projects. We are also committed to accelerating our global commercialization efforts which are crucial for our growth trajectory. The substantial participation from our institutional investors underscores their confidence in our strategy and future potential. We are particularly grateful to our major shareholders and directors for their unwavering support.