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- Wellness company Wellfully (WFL) raises $5 million through an oversubscribed placement
- The company will issue more than 38 million shares at 13 cents each
- Funds from the placement will be used for WFL’s corporate development, with all key programs rapidly progressing towards commercial milestones
- Additionally, the company also raise further money by offering one free option for every three placement shares subscribed for at 20 cents each
- On the market this morning, Wellfully was down 10.3 per cent and is trading at 13 cents per share at 12:41 pm AEDT
Wellfully (WFL) has raised $5 million of firm commitments through an oversubscribed placement.
The wellness company will issue more than 38 million shares at 13 cents per share to investors.
Funds from the placement will be used for WFL’s corporate development, with all key programs rapidly progressing towards commercial milestones.
Products include its skincare and haircare treatment solution Réduit as well as Swisswell pain patches.
Additionally, the company is also planning to raise further money by offering one free option for ever three placement shares subscribed for at 20 cents each.
Chairman Tony Varano commented on the raise.
“Wellfully has undergone a significant transformation over the past two years, establishing a robust, vertically integrated foundation capable of global product development and commercialisation,” Mr Varano said.
“This capital raising will enable Wellfully to accelerate its positive momentum towards
its goal of realising the commercial potential of the Company’s disruptive technology portfolio.”
On the market this morning, Wellfully was down 10.3 per cent and is trading at 13 cents per share at 12:41 pm AEDT.
