Copper producer, Aeris Resources (ASX:AIS) has announced the settlement of its placement and institutional offer.
The offer raised a total of $28.4 million at a price of 20 cents per share.
The company's largest shareholder, Special Portfolio Opportunity V (SPOV) agreed to subscribe for $7 million of new shares.
The retail component of the offer, which seeks to raise around $6.7 million opened last Friday and will close on the 9th of October.
Shares in Aeris Resources (ASX:AIS) are trading flat at 21 cents