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Audinate accelerates with equity raising
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Audinate accelerates with equity raising

Catherine Merity

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

Firm: Maddocks (Audinate Group Limited)

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.

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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”.

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 Ryan

Emma Ryan

Emma Ryan is the editor of Lawyers Weekly at Momentum Media.

Emma has worked for Momentum Media since 2015, and has been responsible for breaking some of the biggest stories in corporate Australia. She also directs the content for Lawyers Weekly's stable of events, including the Australian Law Awards, the Women in Law Awards and the Boutique Law Summit. 

A journalist by training, Emma has spent her career connecting with audiences across a variety of platforms, including online, podcast and radio.

She graduated from Charles Sturt University with a Bachelor of Communications (Journalism). 

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

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