Shaw and Partners has been appointed as Lead Manager to the proposed capital raising by Top Shelf International Holdings Limited (ASX.TSI).

The Company is seeking to raise up to A$10.0 million by way of a Placement of new ordinary fully paid shares issued at A$0.80. 

The offer price of $0.80 represents a 13.0% discount to the last close of A$0.92 on 23 February 2023, a 20.2% discount to the 5-day VWAP1 of A$1.002 and a 22.8% discount to the 15-day VWAP1 of A$1.036 up to and including 23 February 2023.

The company has confirmed that proceeds from the offer will be used to fund the completion of the agave distillery project with commissioning anticipated in June 2023 and the entry and growth into domestic and strategic international markets.

Top Shelf is an Australian diversified branded spirits company with a core purposed to promote, celebrate and enjoy our distinctive Aussie way of life. Its brands include NED whisky, Grainshaker vodka Act of Treason agave.

After only 7 months in Coles, NED Whisky is now the 8th highest selling American / Australian Whisky in Coles Liquor Group, and Top Shelf has grown branded revenue 208% in the first half of FY2023.

The offer is available to Australian Sophisticated and Professional Investors only. 

For more information please contact your Shaw and Partners Adviser