- Digital Wine Ventures (DW8) prepares to deliver details of a proposed acquisition and capital raise
- The online liquor business entered a trading halt on Thursday morning, alerting shareholders it’s planning a fundraise
- Exactly how much DW8 will raise is still unclear, but full details should be announced by July 19 at the latest
- The company ended May having shipped more than 25,000 cases, with over 11,000 orders received in the same period
- DW8 shares last traded at 9.1 cents per share
Digital Wine Ventures (DW8) prepares to deliver details of a proposed acquisition and capital raise.
The online liquor business entered a trading halt on Thursday morning, alerting shareholders it was planning to carry out a fundraiser.
Exactly how much DW8 plans to raise wasn’t clear, but full details of the raise and proposed acquisition should be announced by Monday, July 19.
Earlier this month, DW8 appointed Michele Anderson as an Independent Non-Executive Director.
At the time, Digital Wine Ventures Chairman Paul Evans said Ms Anderson would bring extensive business experience as well as a strong understanding of the wine industry to the role.
“We are delighted to welcome Michele to our Board,” Mr Evans said.
“She will contribute considerable relevant executive experience from senior roles she has held both in the wine industry and in leading digital growth and transformation for major corporations.”
DW8 also recently revealed it had ended May having shipped more than 25,000 cases, a 480 per cent increase on May 2020’s results.
DW8 also recorded more than 11,000 orders during May, while 24 new suppliers signed on with the company.
At the close of yesterday’s trading session, July 14, Digital Wine Venture shares were trading at 9.1 cents per share.