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Big Law

AI company advised on $64m cap raise

A global technology company, headquartered in Australia, has been advised on its recent £34.3 million (approximately AU$64 million) capital raising.

March 26, 2019 • By Jerome Doraisamy
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Seeing Machines

Source: Seeing Machines' facebook page

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Firm: DLA Piper (Seeing Machines Limited)

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Deal: Seeing Machines has conditionally raised gross proceeds of £27.5 million (approximately $51.3 million) by way of a conditional placing of, and subscription for, new ordinary shares with existing and new investors.

 
 

It has further proposed to give an opportunity to qualifying participants in the United Kingdom, Ireland and the Isle of Man to raise to a further £6.8 million (approximately $12.7 million).

Value: $64 million

Area: Corporate

Key players: The DLA team was led by Corporate partner Mark Burger and senior associate Dylan Burke.

Deal significance: Mr Burger said: “We’re pleased to once again partner with Seeing Machines as they continue their growth in emerging markets. The proceeds of this transaction will help the company invest in its core platform technology and continue design development of existing and next-generation products.”

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Jerome Doraisamy

Jerome Doraisamy

Author

Jerome Doraisamy is the managing editor of professional services (including Lawyers Weekly, HR Leader, Accountants Daily, and Accounting Times). He is also the author of The Wellness Doctrines book series, an admitted solicitor in New South Wales, and a board director of the Minds Count Foundation.

You can email Jerome at: This email address is being protected from spambots. You need JavaScript enabled to view it. 

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