Healthcare Business WellNex Life (ASX: WNX) has received an initial conditional binding commitment of $9 million to support the proposed dual list on the AIM submarket of the London Stock Exchange (LSE). Masu.
After gaining great interest from UK-based institutions and sophisticated investors, the company launched its 1:1, unclear qualification offer announced earlier this week.
The qualification offer is not subject to completion of the AIM list.
Book construction process
Wellnex Life CEO George Karafotias said the lead broker will continue the placement marketing and booking process until the eligibility offer ends on February 26th.
The company plans to complete the common stock issues from the conversion of notes soon thereafter, to match the proposed objective list.
Wellnex will use the funds collected to redeem the convertible balance and pay unpaid deferred considerations to fund the company’s distress acquisition and general working capital.
A huge savings
“Saving $1.4 million a year by recapitulating the balance sheet by resolving unresolved deferred considerations to avoid pain and eliminate convertible notes, and earnings growth in domestic and international markets We provide a powerful platform for the company,” Karafotias said.
At the same time, the company aims to accelerate brand launches in the UK and other identified European markets, and pursue additional distribution of its liquid softgel range with current and newly identified partners.
“This is a pivotal and transformative period for the company.
Softgel approval
WellNex Life achieved a breakthrough earlier this month, granting a new market certification (MA) for its liquid paracetamol plus caffeine softgel.
MA appeared after WellNex successfully managed Australian treatment supplies and added the latest addition to its range of liquid softgels.
Liquid paracetamol, liquid paracetamol plus ibuprofen are added to previous MASs.
