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0.7¢ halo food co. limited

Ann: Trading Halt, page-26

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ASXleo

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14/02/22

11:09

Post #: 59550869
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Originally posted by mondyinvest: ↑

"Listed food manufacturing business Halo Food was pitching investing for $5 million on Monday morning to fund an acquisition and an investor sell-down. Halo Food makes powered dairy products, meals, snacks and protein drinks. It included a $2 million sell-down from Bergen Special Opportunity Fund LP which was clearing out its entire holding in Halo Food. The remaining $3 million was a placement, which would be followed by another $3 million raise via a share purchase plan. The placement and sell down were priced at 10¢ a share, a 23.1 per cent discount to the last traded price and 22.6 per cent discount to the five-day volume-weighted average price. Halo Food planned to use the funds raised to acquire 12 year-old healthy eating and weight loss program The Healthy Mummy, according to the term sheet sent to potential investors. It would also use the funds to refinance existing debt facility, and for marketing and working capital. Bell Potter Securities and Peloton Capital were the joint lead managers. Bids were due 12pm Tuesday, February 15. Halo Food has a $35.6 million market capitalisation before the offer."

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Why on earth HLF would buy a weight loss program.
Should not we focus on expanding the lines !
Such a joke .
waiting since 2 years and now that .

HLF Price at posting: 13.0¢ Sentiment: None Disclosure: Held
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Ann: Trading Halt, page-26

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