I found the following in The Financial Review / Street Talk so...

I found the following in The Financial Review / Street Talk so not completely official but probably not far off the mark.

Stockbroker Bell Potter Securities is lining up investors for cut-priced shares in skin and hair products company BWX Ltd.
BWX Ltd’s working on an equity raising for this week.
BWX is understood to have called in long-time adviser Bell Potter to oversee a raising slated for early this week, with proceeds used to shore up the company’s financial position ahead of its June 30 balance date.The mooted raising’s expected to be done at a hefty discount to BWX’s last traded price. Sources suggested shares could be sold for as little as 60¢, which would be a near 50 per cent discount.The rescue raising would be accompanied by a surprise profit downgrade, to be issued only 1½ months after BWX provided earnings guidance for the almost completed 2022 financial year and five weeks after an investor day. It would suggest trading dropped off materially in recent weeks.Bell Potter was understood to be putting indicative pricing and terms to potential anchor investors over the weekend.