Thursday 6 June 2019
Maddocks has advised ASX listed audio technology company Audinate Group Limited on its successful equity raising to accelerate growth.
As announced to ASX on 6 June 2019, 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.
Audinate is an Australian-headquartered producer of professional AV equipment, including its Dante audio over IP networking solution. The company has regional offices in the United States, United Kingdom and Hong Kong.
Catherine and Rosa advised Audinate on its IPO in 2017 and is pleased to 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.
This matter continues a run of deals for tech companies by the Maddocks Equity Capital Markets team. Most recently, Maddocks advised Atomos and US-based tech companies, Revasum and Pivotal Systems on their successful IPOs and ASX listings.
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 built environment, education, government, healthcare 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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