Salter Brothers, which owns 7.24 per cent of Top Shelf via its emerging companies fund, was also leading the charge on the bookbuild. ausbiz
was drumming up interest in a $35 million to $40 million recapitalisation over the weekend, with blessings from its substantial shareholder Salter Brothers.
Potential backers were told Top Shelf ran a process for the sale and leaseback but had decided to retain the agave farm in lieu of an equity injection. The agave farm, they were told, could add greater value for shareholders down the line. The shares were halted Monday, just after market close. Top Shelf had a $22 million market capitalisation before the raising. It last raised in early March.Elsewhere, Latrobe Magnesium was raising $4 million at 6¢ a share, a small discount to the 6.5¢ last close.
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