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The funds raised will be used for further improvements to its Cook Mine in Queensland and the associated coal handling and preparation plant.
Since the end of January, Cook has had its Magatar Continuous Mining System up and running and is ramping up to achieve 100,000t per month. The Magatar system is the only one of its kind in Australia.
Caledon said the offer was heavily oversubscribed thanks to strong institutional and retail investor response.
Caledon will issue 13.6 million Chess Depository Interests for shares at $A1.10 per CDI.
Upon completion of the Offer and listing on the ASX, the company will have 192 million shares in issue, which includes the 178 million shares already trading on London's AIM. The shares will be fully fungible between the two markets.
