The company, which runs its business through its wholly owned subsidiary GD Wellness Pty Ltd., is an online retailer of gym and fitness equipment. Australia-based GD Wellness offers both proprietary brands and other brand names, Fitell said in a Friday filing with the Securities and Exchange Commission. Proceeds will also be used for the expansion of Fitell's licensing business, business development opportunities and working capital and other general corporate purposes. For the year ended June 30, Fitell recorded $8.2 million in revenue, up from $6.9 million the year prior. Write to Kathryn Hardison at kathryn.hardison@wsj.com(END) Dow Jones NewswiresOctober 07, 2022 16:58 ET (20:58 GMT)Copyright (c) 2022 Dow Jones & Company, Inc.

Source: Wall Street Journal October 08, 2022 09:07 UTC