Deal: HWL Ebsworth advised Ingenia Communities Group (ASX:INA) in relation to its fully underwritten distribution reinvestment plan, which was announced on 18 February 2020 and which closed on 26 March 2020.

Ingenia is an ASX-listed real estate investment trust operating lifestyle, holiday and rental communities.

Value: $15.2 million.

Area: Venture capital.

Key players: The HWL Ebsworth team was led by partner Paul Brown (partner) and solicitor Jonathan Yee (solicitor) advising on all aspects of the transaction.

Deal significance:  Ingenia raised $15.2 million at $4.79 per security with the support from its participating securityholders and its underwriter (Moelis Australia Advisory). 

The equity will be used to partially fund the acquisition of an established lifestyle community on the NSW Central Coast.

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Simon Owen, CEO of Ingenia Communities said: “HWL Ebsworth’s team has worked with Ingenia for a number of years on our key capital transactions, and continues to provide exceptional service and comprehensive advice.”

HWL Ebsworth also advised Ingenia on its $131 million placement and accelerated non-renounceable entitlement offer in November 2019.