Top Shelf International Holdings (ASX:TSI) said it plans to raise up to AU$10 million via the issue of convertible notes to sophisticated and institutional investors, according to a Friday Australian bourse filing.
The issuance will fund the next steps of its ongoing business restructuring as it seeks to relist on the Australian Securities Exchange. It will seek shareholder approval for the issuance at a general meeting on Aug. 11.
It also signed a heads of agreement with Amber Beverage Australia, under which the firm will retain ownership of its brand, and Amber Beverage will manage trade execution, customer relationships, warehousing, logistics, and sales force operations. It will also coordinate with Top Shelf on new product introductions and range reviews.
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