Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF, FRA:9K3) has raised £3.5 million in an institutional subscription and opened the door to another £1 million from retail investors, using a funding package to keep its US Galactica-Pegasus helium project moving as first sales begin to come into view.
The AIM-listed group priced the fundraising at 0.6p a share, a 17.6% discount to the previous day’s closing mid-price, with admission of the new shares expected on 31 March.
Helium One said the main raise will help fund ongoing drilling and development at Galactica in Colorado, maintain its southern Rukwa project in Tanzania while it pursues a farmout, and bolster working capital.
The cash call landed alongside an operational update from Galactica, where six wells are now tied into the Pinon Canyon facility, completing stage one of the development campaign.
The plant is shifting to continuous 24/7 operations after automation and system upgrades, with the operator having already agreed first helium sales for an initial tube trailer at spot pricing.
Helium One said longer-term helium and CO2 offtake talks are also progressing, while CO2 liquefaction remains on track for the first half of 2026.