Aerial-mapping business Nearmap Ltd ( ASX: NEA ) this morning announced plans to raise $70 million from institutional investors to fund its international expansion plans. The capital raising will only be offered to institutional investors at a price of $1.60 per share, which is a 11.1% discount to yesterday's closing price of $1.80, or a 8.1% discount to the 5-day volume weighted average price of $1.742.