- Wellfully (WFL) completes a non-binding memorandum of understanding (MoU) with The Brandbase (TBB) to merge the two companies
- Wellfully expects the addition of TBB to significantly increase its sales revenue, improve gross margins and accelerate its growth plans
- Under the proposed transaction, the company will fully acquire TBB via the issue of Wellfully shares for a total of $1 million to TBB’s parent company Capital D
- Post-merger, Wellfully expects Capital D will hold about 18 per cent of its shares, making Capital D its first institutional investor
- Shares in Wellfully are up 21.4 per cent, trading at 1.7 cents at 3:28 pm AEDT
Wellfully (WFL) has completed a non-binding memorandum of understanding (MoU) with wellness marketing company The Brandbase (TBB) to merge with Wellfully.
If merged with Wellfully, the company expects that TBB will significantly increase its revenues, improve gross margins and help to accelerate the company’s growth plans.
Under the proposed transaction, the company will fully acquire TBB via the issue of Wellfully shares for a total of $1 million.
Post-merger, it is expected that TBB’s parent company Capital D would hold about 18 per cent of the shares in Wellfully, making Capital D its first institutional investor and will significantly strengthen the company’s shareholder base.
“We are extremely happy with the prospects of this transaction that delivers a new level of competitiveness and scale across our combined companies,” Capital D Co-Founder Stephan Lobmeyr said.
Wellfully Chairman Paul Peros said an integrated company from this partnership will allow for the capture of market opportunities that were previously out of reach of the two stand-alone operations.
The company will consider all financing options to drive its objective of ramping sales growth and the implementation of a number of natural synergies based upon the post-merger integration plan.
Shares in Wellfully were up 21.4 per cent, trading at 1.7 cents at 3:28 pm AEDT.