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  • Wattle Health Australia (WHA) is looking to tap investors for $2.9 million by offering up a one-for-12 non-renounceable rights issue
  • Up to 19,220,786 fully paid ordinary shares are up for offer at $0.15 per share in a bid to fuel working capital and accelerate growth
  • WHA affirms it is fully funded to execute its $4.75 million acquisition of Melbourne-based brand development, brokerage and distribution business Brand Solutions Australia announced in April
  • Eligible shareholders will be given an entitlement to subscribe for one new WHA share for every 12 shares held as at the May 18 record date
  • Wattle Health Australia shares have not been traded since February last year

Wattle Health Australia (WHA) is looking to tap investors for $2.9 million by offering up a one-for-12 non-renounceable rights issue.

Up to 19,220,786 fully paid ordinary shares are up for offer at $0.15 per share in a bid to raise the funds, which are tipped to go towards "working capital and accelerating growth".

Wattle Health said the offer allows existing shareholders to purchase shares at the same price as its previous institutional raise and its Brand Solutions Australia acquisition.

WHA acquired the Melbourne-based brand development, brokerage and distribution business for $4.75 million back in April.

The ASX-lister affirms it is fully funded to execute BSA transaction, maintaining the funds raised under this offer are to accelerate growth.

Eligible shareholders can subscribe for one new WHA share for every 12 shares held as at the May 18 record date, with the offer expected to close on June 7.

Wattle Health Australia shares have not been traded since February last year.

WHA by the numbers
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