Value: Undisclosed.

Area: Capital raise. 

Key players: The K&L Gates team that advised Dicker Data was led by Australian capital markets partner Russell Lyons and senior associates Joel Farina and Priscilla Ng.

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Deal significance: The $65 million raised under the institutional placement and SPP will be used by Dicker Data as funding for the ongoing construction of its new distribution centre in Kurnell in NSW and continued investment in its recently established financial services arm “Dicker Data Financial Services.”

Dicker Data’s chairman and CEO David Dicker said that the funds raised under the institutional placement and SPP will be used to support Dicker Data’s long-term growth objectives, and ensure the company remains well positioned as Australia’s leading value-added technology distributor. 

Given the strong support for the capital raise, Dicker Data increased the share purchase plan by $10 million, pulling in $15 million in new funds instead of the originally planned $5 million.

Applications totalling $53.7 million were received from 3,456 shareholders with an average amount of $15,000 being applied for. The company said given the strong number of applications, scale-backs needed to be applied.

“We are pleased to have been able to support our longstanding client Dicker Data with its successful fundraising transaction, which was seamlessly executed during the height of recent financial market volatility,” Mr Lyons stated.

The institutional placement was fully underwritten by international investment bank JP Morgan.