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Maddocks advises Audinate on capital raising

• 11 September 2023 • 1 min read
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Maddocks has advised audio visual networking business Audinate Group Limited (ASX: AD8) on its $50 million capital raising to drive organic growth, strategic investments in new products and funding for strategic opportunities.

Audinate is the developer of the pro AV networking technology, Dante, for manufacturers and professionals across the audio visual industry.

The $50 million raise via an institutional placement was fully underwritten by UBS Securities and Canaccord Genuity while Audinate will also conduct a non-underwritten Share Purchase Plan offer to existing shareholders to raise up to $20 million.

Proceeds from the equity raising will be used to invest in new products related to its Dante audio installations, as well as accelerating a full video product portfolio for the company. The new funds will also enable Audinate to explore new identified merger and acquisition opportunities.

The Maddocks team was led by partner Catherine Merity with support from senior associate Tanja Maley and solicitor Maxwell Padley.

Commenting on the transaction, Catherine said: “We have worked with Audinate since its IPO in 2017 and it is great to see the business continue to develop with a pipeline of new products underway across the audio and video spectrum and further growth potential through strategic acquisitions.

“We were very pleased to work closely with the team at Audinate on this capital raising that will be instrumental in the next phase of its growth story.”

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