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Update: Gryphon Capital Income Trust to Raise Over AU$86 Million Through Unit Placement

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(Updates throughout with a filing from Gryphon Capital Income Trust)

Gryphon Capital Income Trust (ASX:GCI) received firm commitments for about 43.1 million new ordinary units from wholesale clients at a price of AU$2 each for aggregate proceeds of AU$86.3 million, according to a Tuesday filing with the Australian bourse.

The new units are scheduled to be issued on Sept. 15, with ASX quotation expected to occur the same day, per the filing.

Proceeds from the placement will be used to "support incremental portfolio management consistent with the trust's investment strategy," the company said.

One Managed Investment Funds, the responsible entity for Gryphon Capital Income Trust, also plans to offer a unit purchase plan to the trust's existing unitholders in the coming months.

The Australian Financial Review's Street Talk column reported the launch of the fundraising initiative on Monday.

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