OMG Group Limited (ASX: OMG), a health & wellness food company established with a vision to provide engaging brands that provide the very best foods to meet consumer demand for clean, sustainable and healthy products, has announced it has secured $2 million in new funding through a placement of shares. The company will issue 200 million new fully paid ordinary shares at $0.01 per share to institutional, sophisticated, and professional investors. The funds will be used primarily to increase inventory of Blue Dinosaur and Oat Milk Goodness (OMG) products.
The capital injection will support increased demand from major Australian retailers, including Woolworths Supermarkets, 7-Eleven, Quikstop, and Canteen One. The placement follows the company’s recent operational progress in securing additional ranging with these retailers. Increased inventory will also benefit OMG Group’s ongoing e-commerce growth, which saw online sales for Blue Dinosaur products increase by 75% in the last quarter, reaching $568,496.
Further funds will be allocated to sales and marketing initiatives, including campaigns featuring brand ambassadors, as well as covering operational costs and general working capital. CEO Alex Aleksic expressed gratitude to new and existing investors for their support, noting the funding highlights OMG’s potential as a leading FMCG product provider. The placement involves the issue of one free attaching listed option (ASX: OMGO) for every two new shares, exercisable at $0.015 per option and expiring on 27 September 2027, subject to shareholder approval.
The placement will occur in two tranches. The first tranche involves an unconditional issue of 162,698,723 shares at $0.01. The second tranche, subject to shareholder approval, will issue the remaining 37,301,277 shares. JP Equity Partners acted as the lead manager for the placement, with support from Spark Plus. Shares issued under the placement will be listed on the ASX and rank equally with existing ordinary shares.
