Audinate Group advised on cap raising up to $40m

Audiovisual tech company Audinate Group has been advised on its latest oversubscribed capital raising.

Reporter • 03 August 2020 • Big Law

Firm: Maddocks (Audinate Group).

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Deal: Audinate has raised $28 million through a fully underwritten institutional placement that was launched on 23 July 2020, the capital for which “will be used to (among other purposes) fund the continuing growth of the company”.

Value: $28 million.

Area: Capital markets.

Key players: The Maddocks team comprised partner Catherine Merity, special counsel Rosa Sayer and lawyer Miles Tuckfield.

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Deal significance: Following the raise, Audinate is offering eligible shareholders to take part in a share purchase plan that could raise up to a further $12 million.

“This is the latest in a string of capital raisings for technology companies that the Maddocks [equity capital markets] team has worked on over the past two years,” the firm said.

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