Skin Elements raises AU$900,000 to fund product push
What's the deal? Australian skincare company Skin ElementsDealroom has a profile for this one. Try Dealroom → (ASX: SKN) has secured firm commitments to raise AU$900,000 (≈$620,448) through a share placement to sophisticated and professional investors.
It will issue 300 million new fully paid shares at AU$0.003 each, with Phoenix GlobalDealroom has a profile for this one. Try Dealroom → Investments as sole lead manager. The placement is expected to settle on 16 July 2026.
Proceeds will fund its product portfolio — including ECO Nurture, SuprCuvr, Soleo Organics sunscreen, and PapayaActivs skincare — plus general working capital.
Why now? The raise strengthens Skin Elements' balance sheet as it pushes growth across multiple brands.
It comes alongside a board shake-up: the company appointed Roderick Nicholas as non-executive chairman and cut annual non-executive director fees after a remuneration review.
What could go wrong? The placement price reflects a 25% discount to the last closing price and a 32.8% discount to the five-day volume-weighted average — diluting existing shareholders.
Skin Elements also engaged Phoenix Global Investments for investor relations under a 12-month deal, paid partly in escrowed shares. That ties its capital partner closely to its market narrative.
The signal: Skin Elements remains an early-stage natural biotechnology player betting that a multi-brand portfolio can carry it past the cash crunch many microcaps face. By leaning on Phoenix Global as both lead manager and investor relations partner, it ties its growth story tightly to a single corporate backer — a bet that the market narrative will lift a stock now priced at fractions of a cent.
Read more: Kapitales News
