Calix (ASX:CXL) raised AU$20 million via the placement of around 26.7 million shares at AU$0.75 apiece, according to a Monday filing with the Australian bourse.

Chief Executive Phil Hodgson and senior managers will sell a total of 717,432 shares via a secondary offering to fund tax obligations arising from the conversion of options expiring Dec. 17, the filing said.

The company will also offer eligible shareholders on the register as of Dec. 5 the opportunity to participate in a share purchase plan, capped at AU$30,000 per shareholder, to raise up to AU$5 million.

Proceeds will be used to support the company's commercialization strategy and for the Leilac and Zesty demonstration projects, according to the filing.

Shares rose nearly 1% in afternoon trade Tuesday.

Price (AUD): $0.80, Change: $+0.01, Percent Change: +0.63%