Join our daily newsletter At The Bell to receive exclusive market insights
- Wellfully (WFL) will soon raise extra capital, after placing its securities on the ASX in a trading halt ahead of a fundraise announcement
- The beauty and wellness business looks set to announce the full details of the capital raising by Wednesday, October 13, with shares to remain halted until that date
- WFL ended the 2021 financial year with $2.72 million worth of cash after carrying out two capital raises during the 12-month period
- The company ended FY21 with a total loss of $6.4 million after spending $5.2 million in operating expenses throughout the year
- Wellfully shares last traded at 14.5 cents per share on October 8
Wellfully (WFL) will soon raise extra capital, after placing its securities on the ASX in a trading halt ahead of a fundraise announcement.
The beauty and wellness business owns a number of consumer brands including skincare line Reduit and apparel line Swisswell.
The wellness company will announce the full details of the capital raising on or before Wednesday, October 13.
Its shares will remain halted from trade until that date, giving the business time to plan and execute the raise.
Financially, WFL ended the 2021 financial year with $2.72 million worth of cash after carrying out two capital raises during the 12-month period.
Wellfully announced plans to raise $3 million in capital via an entitlement offer in August 2020, and $4.75 million via placement in February 2021.
Finally, the wellness business ended FY21 with a total loss of $6.4 million after spending $5.2 million in operating expenses throughout the year.
Before today’s trading halt, shares in Wellfully were trading at 14.5 cents per share on Friday, October 8.
