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Wellnex Life Ltd ( (AU:WNX) ) has issued an announcement.
Wellnex Life Limited has expanded its financing facility with Reach Wholesale, securing an additional loan of up to A$2.5 million to support its growth. The facility, secured over the assets of key subsidiaries, offers a 24-month term with a 14% interest rate. The immediate drawdown of A$1.31 million will address long-term obligations and general working capital, with further funds contingent on Reach’s approval. This financial move is aimed at providing Wellnex Life with the flexibility needed to continue its business expansion and maintain its competitive edge in the healthcare industry.
The most recent analyst rating on (AU:WNX) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Wellnex Life Ltd stock, see the AU:WNX Stock Forecast page.
More about Wellnex Life Ltd
Wellnex Life Limited is a consumer healthcare company known for developing, licensing, and marketing registered products and brands in the healthcare market. Since its ASX listing in 2021, it has launched numerous brands and products available in major retailers, pharmacies, and supermarkets. The company has secured significant licensing arrangements with major pharmaceutical companies, expanding its global distribution footprint. The acquisition of the Australian topical pain relief brand Pain Away in December 2023 has further accelerated its growth and reinforced its position in the healthcare market.
YTD Price Performance: -58.19%
Average Trading Volume: 56,133
Technical Sentiment Signal: Sell
Current Market Cap: A$16.94M
For an in-depth examination of WNX stock, go to TipRanks’ Overview page.