The capital raising comprised a placement to institutional and sophisticated investors and an accelerated non-renounceable entitlement to existing shareholders. The placement and institutional entitlement offer will complete on 12 August 2020.

Tubi Limited is an Australian company with operations in the United States that has developed patented technology for mobile extrusion plants for plastic extraction piping used for a range of projects, in particular energy projects. The capital raised will be used to complete new plants under construction in the US as well as funding future growth.

The Maddocks team on the matter was partner Catherine Merity, special counsel Rosamond Sayer and lawyers Jordan Reid and Millie Crighton.

This is one of a number of capital raisings the Maddocks Equity Capital Markets team is advising on having also acted for leading audio visual company Audinate in its $40 million capital raising announced last week.

Editor note:

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