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Jaxsta Limited ( (AU:VNL) ) has issued an update.
Vinyl Group Ltd has successfully completed its retail entitlement offer, raising approximately A$7.65 million in total with strong shareholder support. The funds, underwritten by Peloton Capital, will be used to acquire Concrete Playground Pty Ltd, replenish cash reserves from previous acquisitions, and provide additional working capital. This strategic financial maneuver underscores the company’s commitment to expanding its portfolio and strengthening its path to profitability, aligning with its long-term goals of delivering value and cementing its industry position.
More about Jaxsta Limited
Vinyl Group Ltd, listed on the ASX under the symbol VNL, is a prominent player in the music industry, offering a suite of technological solutions designed to connect music creators, fans, and brands. Its diverse portfolio includes Vinyl.com, an ecommerce platform with over 50,000 titles for music enthusiasts, Vampr, a social-professional networking platform for creators, and Jaxsta, the world’s largest database of official music credits. Additionally, Vinyl Group pioneers in Web3 with Serenade, offering physical and digital collectibles, and manages a media arm with leading publications like Mediaweek and The Brag Media.
YTD Price Performance: 0%
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $71.08M
Learn more about VNL stock on TipRanks’ Stock Analysis page.
