Beetaloo Energy Australia (ASX:BTL) has launched a share purchase plan (SPP) to raise up to AU$5 million, following a successful AU$66.3 million institutional placement priced at AU$0.28 per share, according to a Monday Australian bourse filing.

The SPP is priced at AU$0.28 per new share and will require shareholder approval at the annual general meeting on May 29, as it is issued within 12 months of the previous SPP and must comply with Australian Securities Exchange listing rules, per the filing.

Shareholders in Australia and New Zealand who are eligible as of April 9 may participate, with application amounts ranging from a minimum of AU$500 to a maximum of AU$30,000, subject to reduction for any prior SPP participation in May 2025, the filing added.