Wellnex Life Limited Entitlement Offer
Offer Details
This Offer is now Closed
TBA
*Offer is at the same price as the institutional placement
Offer Details
30-Day VWAP*
$0.71
Offer Price
$0.65
*This offer represents a 8.6% discount to the volume weighted average price during the 30 trading days before the Offer was announced. All applications and monies must be received by 5pm (AEDT) on 26 February 2025.
“After spending years building a portfolio of brands and licensing deals – including with one of the largest consumer health companies in the world – we are finally seeing the traction we’ve been looking for, as evidenced by our recent doubling of revenues and margins. I see Wellnex at an inflection point now and have never been more excited about the future of the company.”
Zack Bozinovski – Managing Director
Request Forms
By clicking submit, I agree to the terms of the Reach Markets Financial Services Guide that includes the Privacy Statement. Reach Markets Pty Ltd provide Corporate Advisory Services to Wellnex Life Limited and will receive fees for its role in managing this offer based on the uptake by investors.
Overview
Wellnex Life Limited (ASX:WNX) is a consumer healthcare business with a proven capability of turning consumer trends into marketable products and getting those onto shelves fast via a market-leading distribution network.
Company Highlights:
- Portfolio of five 100% owned brands – such as Pain Away, Australia’s second largest topical pain relief brand.
- Game-changing partnership with Haleon – one of the largest consumer health businesses in the world (Sensodyne, Voltaren, Panadol) – with first UK order received in H1 FY25.
- Joint ventures with Chemist Warehouse – including for Wagner Liquigesics (paracetamol and ibuprofen-based soft-gel capsules) and Wellness Life (medicinal cannabis).
Wellnex recently announced a doubling of revenues and margins, including over $3m sales per month in both November and December.
The company has recently rebuilt its board, adding some of Australia’s leading consumer health veterans, including successful entrepreneurs, blue chip executives and a former director of the Pharmacy Guild of Australia.
Parallel to this rights issue, Wellnex is conducting an IPO on AIM (part of the London Stock Exchange) to boost investor interest via a dual listing in Europe.
Offer Details
Wellnex Life (ASX: WNX) has launched a non-renounceable pro-rata 1-for-1 entitlement offer of fully paid ordinary shares (Shares) at an issue price of $0.65 per Share (Entitlement Offer) to raise up to approximately $22.1 million (before costs).
The issue price of $0.65 represents a:
- 8.6% discount to the volume weighted average price during the 30 trading days before the Offer was announced.
Use of Funds
Funds raised in the Offer will be used to:
- Clear Wellnex’ convertible notes.
- Pay the outstanding deferred consideration for Pain Away.
- General working capital purposes, including the costs of the Offer and the AIM listing.
Should you wish to apply for an amount greater than your allocation, use the same BPAY details to fund the full amount you would like to be allocated.
The directors reserve the right to allocate at their discretion any shortfall* to eligible shareholders that apply for additional new shares in excess of their entitlement.
*Note this is subject to there being a shortfall amount when the Entitlement Offer closes and the board retains absolute discretion on final allocations.
