Clarendons advises Forbidden Foods on capital raising to fund growth

Clarendon Lawyers is delighted to have advised ASX-listed Forbidden Foods Limited (Forbidden Foods or the Company) on its recent capital raising to fund a proposed acquisition and to provide additional funds for other growth opportunities and working capital.

The raising is comprised of a $5.5 million placement of ordinary shares to professional, institutional and sophisticated investors and a share purchase plan offer to existing eligible shareholders to raise a further $1 million. 

Forbidden Foods is a diverse multi-brand fast-moving consumer goods company, producing innovative, health focused food products for retail and food service customers in Australia and overseas.

The funds from the raising will be used to fund the acquisition of Blue Dinosaur, a plant-based snack bar company that is highly complementary to Forbidden Foods’ existing business, and to provide additional working capital for the business. 

The Clarendons team was led by Directors David Bryant and Andrew Chan. 

Dave said: “We are pleased to have advised the Forbidden Foods team on its successful capital raising, having had a long standing relationship with the Company. We look forward to seeing Forbidden Foods grow in this next exciting stage of its journey.” 

BW Equities acted as sole lead manager on the Placement.