COBRAM Estate Olive has has raised another $8.1 million to boost its growth in the United States.
The company, with a major grove and processing plant at Boort, raised $6.1 million through a share purchase plan and $2 million in a shortfall placement.
More than 2.5 million new shares were listed on the ASX on Tuesday.
Funds will be used to support Cobram’s growth strategy in the US, which includes purchase of additional freehold farmland and the development of about ,600 hectares of olive groves.
Chair Rob McGavin said: “We were delighted to provide our shareholders the opportunity to participate in the share purchase plan  at the same price as the institutional and sophisticated investors in the placement. 
“We are grateful to the shareholders who participated for their continued support, and we look forward to putting these funds to work to accelerate our growth initiatives in the US.”
The new shares were offered at $3.20 and the company on Tuesday was trading at $3.36.