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The Market Herald advised on multimillion-dollar deal
Clayton Utz has advised The Market Herald on its Entitlement Offer to raise approximately $15.5 million.
Emma Musgrave
Firm: Clayton Utz (The Market Herald).
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Deal: The Market Herald is being advised in relation to its fully underwritten one-for-six pro-rata renounceable Entitlement Offer to raise total proceeds of approximately $15.5 million (before costs).
Value: $15.5 million.
Area: Corporate.
Key players: The Clayton Utz team was led by corporate partner Mark Paganin and senior associate William Davies, with support from lawyers William Colreavy, Victoria Bandurski and Matthew Ledger.
Canaccord Genuity has been appointed Lead Manager and Underwriter.
Deal significance: The Market Herald is an ASX-listed digital business and investor relations platform services provider.
According to a statement from Clayton Utz, funds raised in this deal will be used to pay down debt associated with The Market Herald Ltd’s acquisition of Gumtree, Carsguide and Autotrader — a transaction on which the firm also advised.
