Chamberlin PLC (AIM:CMH) told investors it has conditionally raised £830,000 via a share placing and subscription at a price of 2p per share.
The castings and engineering group said it will use the net proceeds of the fundraising as working capital and to strengthen its balance sheet.
Last week, the operational performance in the first half of the financial year was said to be broadly in line with board expectations.
Alongside institutional and other investors, executive director Trevor Brown took part in the fundraising, which was priced at a discount of just under 30% of the closing mid-price yesterday.