Blue Star Helium (ASX:BNL) has experienced its worst trading day since July 28, 2020.

The company has announced firm commitments to raise A$7 million through an institutional placement of 333.3 million shares at A$0.021 - this is reflected as a 22.2% discount to the stocks last closing price.

This additional equity will be used to support the development of the Voyager helium production plant, with completion expected by the fourth quarter.

Amidst these changes, Blue Star Helium’s stock reached its lowest level since September 7.

In terms of trading volume, over 16 million shares were exchanged, a significant deviation from the 30-day average volume of 1.3 million.

The stock is currently down approximately 53% year-to-date, as of the most recent close.

Blue Star Helium (ASX:BNL) is a firm committed to the development and production of helium.