Lithium Universe (ASX:LU7) completed the second tranche of its share placement, raising AU$200,000 via the issue of 16.7 million shares to sophisticated and professional investors at A$0.012 each, according to a Tuesday filing with the Australian bourse.

Additionally, the company issued one new listed option for each share subscribed under the first tranche and second tranche of the placement, the filing said.

A total of 178.5 million listed options were allotted to be traded under the Australian Securities Exchange code "LU7O," the filing added.

Shares of the company fell past 11% at market close Tuesday.