Total Face re-stocks warchest for acquisitions
Recently-listed botox and skin care company Total Face Group is back in front of potential investors, seeking to raise $10 million for three acquisitions.
Recently-listed botox and skin care company Total Face Group is back in front of potential investors, seeking to raise $10 million for three acquisitions.
It's understood Total Face is seeking the equity injection to buy three established businesses for $6.4 million and the issue of 4.9 million shares.
The three businesses have five locations across Queensland, Canberra and Melbourne, and the deals value each of them at 4.5-times proforma earnings before interest, tax, depreciation and amortisation.
Total Face is expected to confirm the acquisitions and raising before the end of the week. Bell Potter Securities has been lining up investors for the raising.
The company's shares went into a trading halt on Tuesday.
Total Face listed at 40¢ a share in January.
The stock last closed at 30¢.