Bubs announces AU$63.0 million equity raising to support growth opportunities

Bubs Australia Limited (ASX: BUB) announced a capital raising of AU$63.0 million of new fully paid ordinary shares in the company at an offer price of AU$0.52 per new share. The offer price of AU$0.52 represents an 18.8% discount to the last traded price of AU$0.64 on 04 July 2022. The equity raising includes an Institutional placement of new shares to raise approx. AU$32.4 million and a 1 for 10.42 pro-rata accelerated non-renounceable entitlement offer of new shares to raise approx. AU$30.6 million.

The fund raise via the equity raising will provide the company with additional balance sheet flexibility to support growth initiatives and execute on long-term strategic goals. It will also fund to working capital to assist with the immediate scale-up of group activities given the additional accelerated and rapid market expansion.

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