The WAM Active (ASX:WAA) share price hit a new 52-week high today

The WAM Active Limited (ASX: WAA) share price closed up 3.9% today, trading at a 52-week high of $1.195.

What happened

The WAM Active share price was flying today after the company announced strong demand for its share purchase plan (SPP), which, together with its oversubscribed placement, has raised more than $25.2 million.

The SPP announced in late February allowed shareholders to apply for up to $30,000 in shares at a discounted rate. As a bonus, those who participated will receive the company’s fully franked 3 cents per share dividend on all newly issued shares.

Participants in the SPP and placement will be entitled to bonus options…