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Minters sole adviser on Osprey's $20m IPO

Minters sole adviser on Osprey's $20m IPO

Minter Ellison is the sole adviser on Osprey Medical’s $20 million capital raising and initial public offering.

Minter Ellison is the sole adviser on Osprey Medical’s $20 million capital raising and initial public offering.

The US-based medical device operator listed on the ASX this month, to raise funds for the commercialization of its CINCOR device, designed to reduce kidney injury frm ex-ray dyes during common health procedures.

James Hutton, partner in the Melbourne corporate practice, lead the deal. Also on the deal were partners Bart Oude-Vrielink, John Steven and Adrian Varrasso, special counsel Renee Doyle and lawyer James Williams.

Minter Ellison, the only law firm on the deal, worked with underwriter Shaw Corporate Finance and independent accountant Grant Thornton to secure the successful IPO in what the firm said has continued to be a challenging and scarce IPO market for 2012.

IPOs in Australia to date in 2012 continue to be dominated by smaller Perth based mining companies, Minters said.

The Osprey Medical listing continues a trend of US-based companies in this sector seeking a listing in Australia, Minters said in a statement.

"Times continue to be very tough for capital raisings, particularly IPOs,” said Hutton.

“It is therefore very pleasing to see that companies with a good story and strong management are being supported in this difficult market. It is also a good news story for venture capital in this sector, which continues to be a key supporter of promising technologies."

 

 

 

 

 

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