Osirium Technologies PLC (AIM:OSI) shares nosedived by 32% to 2.7p following a placing, where it raised £1.53mln before expenses.
The provider of cloud-based cybersecurity software issued over 63mln shares at a price of 2p per share, raising £1.27mln.
A further 12mln shares were sold to certain directors of the company at 2p per share, raising the remaining £255,000.
Osirium said the proceeds from the sale will be used for general working capital purposes.