Toys R Us ANZ Limited: Raises AU$1.3 million successfully

Toys ‘R’ Us ANZ Limited (ASX: TOY), a digital-first e-commerce direct-to-consumer retailer, announced the successful completion of a private placement and convertible loan facility, raising a total of AU$1.3 million (before costs). The private placement involved issuing 58,670,355 fully paid ordinary shares at AU$0.011 per Share, raising AU$0.645 million from new and existing investors.

Due to overwhelming demand from retail shareholders, not all subscribers received share allocations. The placement falls within the company's existing capacity under ASX Listing Rule 7.1, eliminating the need for shareholder approval. Settlement for the placement is set for 25 July 2023, with allotted shares available on 27 July 2023. Additionally, short-term loan facilities worth AU$0.655 million were secured from certain directors, to be converted to equity upon shareholder approval, further bolstering funding.

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