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Bubs advised on $38m capital raise
Australian-made infant formula company Bubs has been advised on its $38 million capital raising.
Reporter
Firm: Ashurst (Bubs Australia Limited); Bell Potter Securities Limited and PAC Partners Securities Limited (joint lead managers).
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Deal: Ashurst has advised Bubs on its $38m capital raise, which involved an institutional placement to raise $28 million and a non-underwritten share purchase plan to raise $10 million.
Value: $38 million.
Area: Corporate.
Key players: The Ashurst team was led by partner Kylie Lane, who was assisted by counsel Eliza Blandford and lawyers Ravi Gosal, Nicholas Chant and Chris Primmer.
Deal significance: The proceedings from the placement and share purchase plan will be used by Bubs to support growth initiatives including the launch of Bubs’ new range of Vita Bubs® products, funding the Beingmate China manufacturing arrangements and global market expansion, Ashurst said in a statement.
Ms Lane commented: “We are delighted to assist Bubs with this capital raising, which will support and accelerate the company’s global growth initiatives.”
