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An update from Wellnex Life Ltd ( (AU:WNX) ) is now available.
Wellnex Life Limited has announced an entitlement offer to raise up to $22.1 million, facilitating a 1:1 share offer at $0.65 per share, marking a discount of 8.6% to the 30-day VWAP. This capital raise is in preparation for a dual listing on the AIM Market of the London Stock Exchange, aiming to attract interest from UK and Australian investors. Funds from the offer will be used to redeem convertible notes, complete the Pain Away deferred consideration, and support general working capital, ultimately saving the company approximately $1.4 million annually in costs.
More about Wellnex Life Ltd
Wellnex Life Limited is a consumer healthcare business specializing in developing and marketing a diverse portfolio of brands and licensing agreements. Key products include Wellnex’s own brands like Wakey Wakey and Nighty Night, the Pain Away topical pain relief brand, and intellectual property licensing with companies such as Haleon. The company has seen significant revenue growth, partially driven by its expanding global reach, including new product introductions in the UK market.
YTD Price Performance: 3.89%
Average Trading Volume: 5,627
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €26.42M
For an in-depth examination of WNX stock, go to TipRanks’ Stock Analysis page.
