Microba Life Sciences (ASX:MAP) received firm commitments to raise around AU$12.5 million through the issue of 138.9 million shares at AU$0.09 each, according to a Monday filing with the Australian bourse.

The issue price represents a 21.7% discount to the company's last closing price on June 18.

Participants will also receive one free unlisted attaching option for every two new shares. The options will have an exercise price of AU$0.14 with a two-year expiry from the date of issue, the filing added.

The company said it will also open a share purchase plan (SPP) to raise up to AU$2 million, offering eligible shareholders the opportunity to acquire up to AU$30,000 worth of shares at the same offer price, the filing said.

Proceeds will be used to drive clinical adoption of the company's microbiome testing products.

The company also narrowed its fiscal year revenue guidance of AU$15.4 million to AU$16 million, from the previous AU$15.25 million to AU$16.25 million.

Cnaccord Genuity in Australia and Morgans Corporate are the joint lead managers for the placement.