LAW firm HopgoodGanim has advised US-based investment manager Dutchess Capital on a US$16.3 million equity line facility with Motopia Limited.
Motopia, an Australian mobile marketing and branded mobile content creation provider, announced it had signed the agreement, which would provide a solid base of funding over the next three years.
The equity lines provides Motopia with the opportunity to draw down up to US$320,000, or higher if agreed by Dutchess, when required.
HopgoodGanim partner Brian Moller, who led the team advising on the transaction, said: “We are delighted we have been able to assist as legal advisor to Dutchess Capital to secure this investment relationship with Motopia.”
At no time will Dutchess Capital hold more than 19.99% of Motopia.