The minimum amount to be raised is £4.22million, comprising a firm placing of shares to raise £2.22million and an underwritten sum of £2million.
The shares to be issued under the placing and open offer are expected to be admitted to trading on AIM on 19, 2006, following an EGM of Millwall to be held on 18th April 2006.
The fundraising follows last week's announced sale of the club's Bromley training ground for £1.85million to St John's College, Oxford and its subsequent lease back to the Club.
Millwall will use the funds raised for working capital and to explore opportunities to develop both the club's ground and property in the immediate area.
Jeanette Gregson, of Millwall's lawyers Davenport Lyons, said: "This is one of the first corporate transactions for Millwall since the high-profile appointment of Peter de Savary, the international entrepreneurial businessman as chairman last November, and signals an exciting future for the club.
"The fundraising and lease back will strengthen Millwall's finances and allow it to use its assets effectively and seek property development opportunities to generate the funds necessary to invest in quality players for the club."
Seymour Pierce is the nominated adviser to Millwall and was advised by Memery Crystal.
