• Offer of 1 new share for every 1 existing share at $0.65 per share
• Aims to raise up to $22.1 million before expenses
• Funds to be used for redeeming convertible notes and paying deferred consideration

Wellnex Life Limited (Wellnex) is undertaking a non-renounceable entitlement offer of one (1) new share for every one (1) existing share held by eligible shareholders as at the record date, at an issue price of $0.65 per new share. The offer aims to raise up to approximately $22.1 million (before expenses). The funds raised will be used to redeem the company's outstanding convertible notes in full, pay the outstanding deferred consideration owed for the acquisition of the Pain Away business, and for general working capital purposes, including the costs of the offer and the proposed AIM listing. The offer is not underwritten and is not conditional on the completion of the AIM listing. Eligible shareholders can also apply for any new shares not taken up under the offer through a shortfall offer. The directors intend to offer to place any shortfall shares to investors under the proposed AIM listing, if it proceeds, or within three months of the closing date.