Victorian wheel maker issues notes

By Grace Ormsby|02 July 2019

A Victorian wheel manufacturing company is preparing for its initial public offering with a convertible notes issuance.

Firm: Ashurst (Carbon Revolution Limited)

Deal: Carbon Revolution Limited has been advised by Ashurst on the issuing of convertible notes.

Value: $73.4 million

Area: Corporate

Key players: Partner Gaelan Cooney led the team, with support from counsel Marina Tinning.

Deal significance: Victoria-based Carbon Revolution Limited is the global pioneer in the manufacture of automotive single-piece carbon-fibre wheels which are 40 per cent to 50 per cent lighter than aluminium wheels at equivalent levels of strength and durability, according to an Ashurst statement.

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The issuing of the convertible notes is part of a pre-initial public offering raising, it was reported.

According to the firm, the notes mandatorily convert into Carbon Revolution shares upon an IPO listing or other liquidity event.

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Victorian wheel maker issues notes
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