Sunrise Energy Metals (ASX:SRL) received firm commitments to conditionally raise AU$32.5 million via a placement of 5 million ordinary shares to sophisticated investors at AU$6.50 apiece, according to a Tuesday Australian bourse filing.

The offer price represents a 9% premium to the company's 30-day volume-weighted average daily closing price, the filing said.

The company will issue one free attaching unlisted option for every new share issued under the placement, exercisable at AU$7.25 each, expiring on Jan. 31, 2028, the filing added.

Proceeds raised will be used for advancing on-site work at the company's Syerston scandium project.