Sandon Capital Investments (ASX:SNC) has secured binding commitments for the subscription of about 3.5 million ordinary shares as part of an institutional placement to sophisticated investors, according to a Thursday filing with the Australian bourse.

The placement's issue price of AU$0.7625 per share matches the issue price for new shares under a share purchase program the company disclosed on April 9.

The placement shares are expected to be issued alongside the shares under the share purchase plan, per the filing.