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Wellfully (ASX:WFL) - CEO, Paul Peros - The Market Herald
CEO, Paul Peros
Source: WWD
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  • Wellfully (WFL) has raised a combined $4.75 million in additional capital via a placement, an unmarketable parcel sale facility and an entitlement offer of loyalty options
  • Under the placement, the company offered over 63 million shares at 7.5 cents each
  • Meanwhile, WFL shareholders have been offered two new options for every three shares held, with each option exercisable at 15 cents from March 31, 2023
  • Additionally, any shareholders with less than $500 in the stock will soon be invited to take part in an opt-out unmarketable parcel sale facility
  • Wellfully will need to seek shareholder approval to issue all of the shares offered under the placement, as well as approval to issue attaching options
  • Shareholders will also be asked to sign off on Wellfully's directors taking part in the placement
  • All of the money from this newly announced $4.75 million raise will go towards business development for WFL
  • Shares in Wellfully are trading down 7.78 per cent at 8.3 cents each

Wellfully (WFL) has raised a combined $4.75 million in additional capital via a placement, an unmarketable parcel sale facility and an entitlement offer of loyalty options.

The company first flagged its plans to raise more money when it placed its shares in a trading halt on Monday, February 8.

It has since received $4.75 million worth of commitments from the clients of CPS Capital, the lead manager of the raise.

These clients were offered to subscribe for over 63 million WFL shares as part of the placement, with each share priced at 7.5 cents.

Wellfully also offered the clients taking part in the placement one option for every two shares, with each option exercisable at 15 cents each before March 31, 2023.

However, the healthcare stock will need to seek shareholder approval for the full placement and attaching options to be issued.

It will also need to seek shareholder approval for Wellfully's own directors to take part in the raise.

Directors Jeffrey Edwards, Cameron Reynolds, Steven Schapera and Antonio
Varano all want to subscribe for 500,000 shares each under the placement.

Meanwhile, other WFL shareholders have also been invited to take part in the capital raising via an entitlement offer of loyalty options.

Under this entitlement offer, the company will offer shareholders two new options for every three shares held.

Each option has an issue price of 0.1 cents each, but will have an exercise price of 15 cents each and an expiry date of March 31, 2023.

The loyalty offer has been underwritten by CPS Capital to a total value of $112,307.

Finally, in addition to the entitlement offer and placement, Wellfully also used today's capital raising announcement to flag an opt-out unmarketable parcel sale facility.

The sale will apply to any shareholders with less than $500 worth of stock, however, the company said the full details of the offer are yet to be finalized.

All of the money raised from this newly announced $4.75 million capital raising is set to be spend on business development for Wellfully.

Shares in WFL are are trading down 7.78 per cent at 8.3 cents each at 1:50 pm AEDT.

WFL by the numbers
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