Extends entitlement offer by a week
At the start of September, our cannabis innovator Investment, Bod Australia (ASX:BOD) announced its “transformational acquisition” of the Aqua Phase technology, alongside a capital raise to fund the deal.
Under the capital raise, BOD can raise up to $3.5M at an offer price $0.08 per share via:
- A placement (with firm commitments for entirety) raising $1.5m
- A four for 17 pro rata non-renounceable entitlement offer to raise up to $2m
Earlier today, BOD announced that the entitlement offer has been extended one week to now close on Thursday 29 September, given the national holiday tomorrow and the Melbourne public holiday the next day.
Aqua Phase is a process technology that increases the bioavailability (i.e. the ability of a substance to be absorbed and used by the body) of cannabis compounds, meaning faster onset, better efficacy, lower dosing and fewer side effects - hence the term “transformational”.
We will provide an in-depth analysis and commentary of the acquisition shortly. We are keen to see how the acquisition can be incorporated within new products such as the insomnia treatment that BOD are working on currently.
