Wellnex Life Limited (ASX:WNX) Announces Pain Away Update
Pain Away Acquisition Update
Wellnex Life Limited (ASX:WNX) has reached an agreement with 365 Health regarding the payment terms of the deferred consideration for the Pain Away acquisition. The company will make a $500,000 payment by 24 January 2025, while the remaining deferred consideration is now due on 3 March 2025. This agreement enables Wellnex Life to align its payment timeline with its proposed dual listing on the London Stock Exchange.
Funding Options and Financial Growth
To facilitate this arrangement, Wellnex Life has secured multiple funding options, allowing it to manage the payments efficiently. Since acquiring Pain Away in December 2023, the brand has significantly impacted revenue generation, with record revenues exceeding $3 million in both November and December 2024.
Future Outlook and Growth Strategy
The upcoming dual listing on the London Stock Exchange is pivotal for Wellnex Life, as it aims to attract institutional investors familiar with consumer healthcare. This strategic move is expected to provide the company with access to a larger capital pool, reinforcing its balance sheet and expanding its presence in the global market.
CEO George Karafotias commented on the company’s progress, stating, “The strategy we have in place will enhance our market reach and solidify our position in the consumer healthcare landscape.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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