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SME Law

Audinate accelerates with equity raising

Maddocks has advised Audinate Group Limited on a successful multimillion-dollar equity raising.

June 10, 2019 • By Emma Musgrave
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Catherine Merity

Source: maddocks.com.au

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Firm: Maddocks (Audinate Group Limited)

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Deal: Audinate Group Limited (Audinate) has completed an equity raising. 

 
 

Value: More than 2.8 million new fully paid ordinary shares were bought by investors via an institutional placement to raise $20 million. A further $4 million will be offered to existing shareholders under a Share Purchase Plan, according to a statement from Maddocks.

Area: Finance

Key players: The Maddocks team advising Audinate comprised partner Catherine Merity and special counsel Rosa Sayer.

Deal significance: Audinate is an ASX-listed audio technology company that produces professional AV equipment. While headquartered in Australia, the company also holds regional offices in the US, UK and Hong Kong.

The Maddocks team first advised Audinate in 2017 when it completed its IPO, with the firm saying it is pleased now assist Audinate on its capital raising “with the proceeds being used to accelerate its growth and expansion plans”.

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Since listing on the ASX, Audinate’s market capitalisation has grown from $72 million to approximately $450 million, the firm noted. 

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Emma Musgrave

Emma Musgrave

Author

Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.

Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences. 

Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.

She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University. 

Email Emma on: This email address is being protected from spambots. You need JavaScript enabled to view it. 

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