- Beauty and wellness company Wellfully (WFL) enters the week in a trading halt as it plans an upcoming capital raise
- So far, it is not known how much the company is aiming to raise or where the funds will be spent
- WFL shares will be paused until Wednesday, May 11, or when further details about the raise are released to the market
- On the market, Wellfully last traded at 6.8 cents per share
Wellfully (WFL) has entered the week in a trading halt as it plans an upcoming capital raise.
It is currently not known how much the company is planning to raise or what for.
Under the halt, WFL shares will be paused until Wednesday, May 11, or when further details about the raise are released to the market.
Wellfully is an Australian-based integrated science-based wellness company. The company is focused on research and development for its Dermaportation and Enhanced Transdermal Polymer (ETP) drug delivery technologies.
Earlier this month, the company secured capital commitments of up to $55 million over a three-year period from Luxembourg-based GEM Global Yield.
The company said the funding was expected to help provide the financial flexibility to execute its strategic development plans.
These plans include the commercial expansion of Wellfully’s RÉDUIT brand alongside process and supply-chain optimisation for its SWISSWELL brand.
On the market, Wellfully last traded at 6.8 cents per share.