Bubs Australia Limited (ASX:BUB) announced a private placement of 35,371,844 fully paid ordinary shares at a price of AUD 0.80 per share for gross proceeds of AUD 28,297,475.2 on September 3, 2020. The transaction will include participation from new sophisticated, eligible and institutional investors in Australia, New Zealand and certain overseas jurisdictions and existing shareholders. The settlement is scheduled to occur on or around September 9, 2020 and allotment is expected on September 10, 2020. The company will pay share registry fees, settlement fees and legal and other external adviser fees.