- Wide Open Agriculture (WOA) has received binding commitments to raise $7 million through a placement
- The company will issue 7,777,778 new fully paid ordinary shares to institutional and sophisticated investors at an issue price of 90 cents
- In addition to the placement, WOA will launch a share purchase plan to raise up to $1.5 million
- Shareholders will have the opportunity to purchase up to $30,000 worth of shares at 90 cents each
- WOA will use the money to develop and operate its lupin protein and oat milk production facilities as well as develop an ethical meat and digital platform
- Company shares are trading 8.41 per cent lower for 98 cents
