Gryphon Capital Income Trust raises $86.3M
- Gryphon Capital Income Trust secures $86.3 million through a wholesale placement.
- The deal increases total unit supply ahead of a planned retail unit holder purchase plan.
- Capital raised will fund portfolio expansion aligned with the trust’s investment strategy.
Gryphon Capital Income Trust (ASX:GCI) has completed an $86.3 million wholesale placement to support incremental portfolio management.
The institutional capital raise was priced at $2 per new unit, representing a discount to recent trading levels.
The funds raised will be deployed in accordance with the investment strategy set out in the trust's January 2024 product disclosure statement.
In addition to the wholesale placement, the trust announced plans to offer existing unitholders the opportunity to apply for up to $30,000 in new units through an upcoming unit purchase plan.
Following the announcement, the Gryphon Capital Income Trust share price was down at $2.05.
The trust operates as a managed investment scheme focused primarily on generating monthly income through investments in residential mortgage-backed securities and asset-backed securities.
One Managed Investment Fund serves as the responsible entity overseeing the governance and fund administration for the trust.
