Prospera Global (SGX:5HH) utilized SG$1.4 million in proceeds raised from a placement activity in June, according to a filing with the Singapore Exchange on Monday.

The lodging and boarding provider had raised around SG$2.5 million from the placement activity and recently utilized proceeds for working capital purposes and to fund growth, development and expansion of current business.

Shares of the company surged nearly 6% in recent trading.