Trajan announces share purchase plan after successful institutional placement

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Global analytical science and device company Trajan  (ASX:TRJ) has launched its Share Purchase Plan (SPP) with the intention of raising up to $5 million.

The company said the SPP will enable its shareholders to have the opportunity to apply for ordinary shares at the same price as an institutional placement initially announced on 17 June 2022, being $2.00 per New Share and representing an 11.1 per cent discount to the ASX closing on 16 June 2022.

Eligible Shareholders will be offered the opportunity under the SPP to apply for up to $30,000 worth of new shares without paying any brokerage costs, commission, or other transaction costs.

The SPP follows the company’s successful completion of a fully underwritten $29.7 million institutional placement (announced 20th June) to partially fund the acquisition of Chromatography Research Supplies. The company said the SPP proceeds will be used to support Trajan’s growth objectives through further strategic acquisitions and organic growth opportunities.