Xamble Group (ASX:SLZ) will raise up to AU$1.4 million through a partially underwritten renounceable pro-rata entitlement offer of one new share CHESS Depositary Interest (CDI) for every three CDIs held at AU$0.012 apiece, according to a Wednesday filing with the Australian bourse.

The issue price is a 33% discount to the closing price of the company's shares on Aug.19.

For every two new CDIs subscribed, shareholders will still receive one free attaching option, exercisable at AU$0.025 expiring on Aug. 31, 2028.

Proceeds will be used to fund creator acquisition and platform growth,

technology development, and working capital, offer costs, per the filing.

Shares of the company jumped 17% in recent Wednesday trade.