- Online booze business Digital Wine Ventures (DW8) is getting ready to raise extra capital and announce a new acquisition
- The company placed its shares in a trading halt on Wednesday morning, pending the release of a fundraise and acquisition announcement
- DW8 securities should resume trading by Friday, when the full details of the capital raise and purchase are made public
- The business ended FY21 with $6.35 million worth of cash in the bank after raising additional capital throughout the year
- Shares in Digital Wine Ventures last traded at 6.6 cents each on October 12
Online booze business Digital Wine Ventures (DW8) is getting ready to raise extra capital and announce a new acquisition.
The company placed its shares in a trading halt on Wednesday morning, pending the release of a fundraise and acquisition announcement.
Digital Wine’s securities should resume trading by Friday, October 15, when the full details of the capital raise and purchase are made public.
In terms of finances, DW8 ended FY21 with $6.35 million worth of cash in the bank after raising additional capital throughout the year.
The business raised $6.15 million in extra cash via a placement, share purchase plan and the issue of additional shares to DW8’s directors.
It used the funds to help grow the business and also acquire Wine Delivery Australia, which it bought in November 2020.
Digital Wine ended the financial year with a $6.9 million loss — in comparison the company ended FY20 with a $2 million loss.
Before today’s trading halt, shares in Digital Wine Ventures were trading at 6.6 cents per share on October 12.