We are pleased to share Wellnex Life (ASX: WNX), owner and developer of some of Australia's leading health brands, has recently released a key ASX announcement.
Wellnex Life Limited (ASX: WNX) (“Wellnex” or “the Company”) is pleased to announce that the company secures conditional binding commitments for $14.3 million to meet the Company’s estimated minimum capital requirement for the proposed dual listing on AIM.
Announcement Highlights
- The Company is targeting an AIM listing in early March 2025.
- Use of funds: Redeem the balance of the convertible notes (minus any conversions), pay the outstanding deferred consideration for the Pain Away acquisition, and the costs of the AIM listing and Entitlement Offer.
- The Company is expecting further commitments. If you are interested, please see contacts at bottom of announcement.
- “This can be a game changing moment for WNX; we have a strong business growing quickly, expanding globally and expecting to be unencumbered by debt.” - Joint Managing Director, Zack Bozinovski.
Wellnex Life's Joint Managing Director Zack Bozinovski said:
“Securing what the Board estimates to be the minimum capital requirement to dual list on AIM is a great achievement for Wellnex Life. The proposed admission to AIM, once achieved, will not only save the company $1.4 million in costs through the elimination of circa $12.8 million in debt, but it will also provide increased exposure and credibility to the Company as it launches its brands into the European market. This follows the UK launch, with Haleon, of our innovative liquid paracetamol soft gel. Wellnex Life has a strong brand and product portfolio, and with a strengthened balance sheet, I am confident that it will have the necessary platform from which to grow revenues and margins.”
Congratulations to George Karafotias, Zack Bozinovski, the board and the team at Wellnex Life for reaching this significant milestone.
Read the full Wellnex Life ASX announcement here.
To learn more about Wellnex Life and stay up to date with investor information, subscribe to the Company's Chairman’s List.
