Wellnex Life Limited (ASX:WNX) Secures $14.3M for AIM Dual Listing
Capital Raise
Wellnex Life Limited (ASX:WNX) has secured conditional binding commitments of $14.3 million to meet its estimated minimum capital requirement for the proposed dual listing on AIM.
Use of Funds
The funds will be used to redeem convertible notes, pay the outstanding deferred consideration for the Pain Away acquisition, and cover the costs associated with the AIM listing and Entitlement Offer.
Entitlement Offer
The company invites shareholders to participate in a non-renounceable pro-rata Entitlement Offer of one new share for every share held, at an issue price of $0.65 per new share. The closing date for the offer is 26 February 2025.
Financial Performance
Revenues grew over 112% in H1 FY25 compared to the prior period, with brands up 182% and IP licensing up 64%.
Executive Comments
Joint Managing Director Zack Bozinovski stated, “This can be a game changing moment for WNX; we have a strong business growing quickly, expanding globally and expecting to be unencumbered by debt.”
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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