Infant formula player Bubs Australia is trying to raise $28 million to fund its US market expansion to help meet growing demand for its products from retail shelves and Amazon.
Bubs is being advised by Melbourne-based Kidder Williams. Broker Bell Potter launched the raising on Wednesday, consisting of a $14 million placement and $14 million share purchase plan. The 12.5¢ a share offer price is a 24.2 per cent discount to its last traded price, according to a term sheet seen by Street Talk.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
