Vinyl Group completed its retail entitlement offer, raising approximately $5.4 million. The proceeds of the fully underwritten pro-rata accelerated non-renounceable entitlement offer will aid user acquisition, reduce technology costs, and expand the company's media business.

The offer price was set at 9.8 cents per new share, with applications received for approximately 6.456 million new shares, generating about $600,00.

The shortfall of 20.332 million new shares, representing approximately $2 million, was covered under the underwriting agreement with Peloton Capital and Red Leaf Securities.

The institutional component of the entitlement offer had previously raised approximately $2.8 million.