Maddocks advises piping specialist on capital raising
Maddocks has advised ASX listed Tubi Limited on a capital raising to raise up to $6.1 million.
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.
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.
Maddocks is a proudly independent Australian law firm that works closely with corporations, businesses and governments throughout Australia and internationally. We advise national and international clients across the education, government, healthcare, infrastructure and technology sectors, from our Canberra, Melbourne and Sydney offices. Our specialist expertise includes dispute resolution and litigation, employment and safety, financial services, franchising and insolvency.
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