Papyrus Australia Raises AU$262K to Support R&D and Working Capital

Papyrus Australia Limited (ASX: PPY) has successfully raised AU$262,000 through a placement to new and existing sophisticated investors, issuing 26.2 million shares at AU$0.01 per share. As part of the deal, investors will also receive 13.1 million unlisted options on a 1-for-2 basis, exercisable at AU$0.02 per option with an 18-month expiry.

The placement is conducted under the company’s ASX Listing Rule 7.1 capacity, meaning shareholder approval was not required. Funds raised will be allocated toward working capital and research & development (R&D) activities in Australia. The shares are expected to be issued once subscription funds clear, no later than 7 August 2025, and an Appendix 3B has been lodged with the ASX. The company states that this capital raising strengthens its financial position to progress ongoing sustainable material and technology initiatives in the domestic market.

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