Wide Open Agriculture secures $7m placement and firm commitments

Wide Open Agriculture Limited (ASX: $WOA) has successfully secured firm commitments from institutional and sophisticated investors to raise a further $6.11 million at an issue price of $0.02 per Share under Tranche 2 of the Placement. This brings the total raised under the Placement to $7 million, fully subscribing the Placement.

Executive Commentary on Firm Commitments and Placement

The firm commitments secured for the full $7 million placement demonstrate the confidence and support from institutional and sophisticated investors in Wide Open Agriculture's growth prospects and its revolutionary climate-conscious, plant-based protein product, Buntine Protein. This additional funding will enable us to further scale up commercial production and continue our mission to create ingredients for food and drink products that build a better future for people and the planet.

Summary of Wide Open Agriculture's Firm Commitments and Placement

Wide Open Agriculture (ASX: $WOA) has successfully secured firm commitments for a full $7 million placement, with Tranche 2 fully subscribed, raising $6.11 million at an issue price of $0.02 per share. The company's hero product, Buntine Protein, derived from lupins grown in West Australia, is gaining traction among Australian and global food companies. The '4 Returns' framework underpins WOA's operations, aiming to deliver measurable outcomes on financial, natural, social, and inspirational returns. The additional funding will support the company's efforts to scale up commercial production and contribute to a better future for people and the planet.