Vinyl Group Ltd’s $7.6 Million Growth Initiative

Jaxsta Limited (AU:VNL) has released an update.

Vinyl Group Ltd, Australia’s sole ASX-listed music company, has launched a $7.6 million accelerated entitlement offer to fund its acquisition of Concrete Playground Pty Ltd and bolster its cash reserves. The offer, fully underwritten by Peloton Capital, allows eligible shareholders to buy new shares at a 14.3% discount to the last closing price, with the proceeds aimed at enhancing the company’s growth and financial stability. This strategic move is expected to issue approximately 76 million new shares, adding significant capital to drive future expansion.

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