Maggie Beer Holdings (MBH) has announced a non-renounceable entitlement offer to raise up to $2.28 million. The offer is structured on a 1-for-10 basis, with shares priced at 5.6¢ each, representing a 10.3 per cent discount to the company’s 30-day volume-weighted average price (VWAP). Maggie Beer Holdings is a company that focuses on premium food and beverage products. The company aims to create products that bring joy and inspire everyday cooking.
The entitlement offer is available to eligible shareholders located in Australia and New Zealand who were registered as of November 27. Shareholders who fully subscribe to their entitlement will also have the opportunity to apply for additional shares through a top-up facility. Any shares not taken up by existing shareholders may be placed with selected professional or sophisticated investors.
If the offer is fully subscribed, Maggie Beer Holdings will issue approximately 40.7 million new shares. The funds raised are earmarked for general working capital purposes. The company has allocated around $100,000 from the total funds to cover the costs associated with the entitlement offer.
This capital raise is part of Maggie Beer Holdings’ strategy to bolster its financial position and support its ongoing operations. The company continues to focus on growth opportunities within the premium food and beverage sector.
