Australian audio-technology company raises funds with Maddocks' counsel

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Maddocks has helped Audinate Group on its latest capital raising, which raised $20m.

The ASX-listed audio-technology company will use the new funds to accelerate growth, the top firm said. The company makes professional audio-video equipment and has regional offices in the US, the UK, and Hong Kong.

More than 2.8m new fully-paid ordinary shares will bought by institutional investors in the raising. The company is also offering $4m in a share purchase plan to existing shareholders.

Partner Catherine Merity and special counsel Rosa Sayer advised Audinate on the ECM transactions. In 2017, the duo also advised Audinate on its IPO.

Maddocks said that since listing, Audinate ‘s market capitalisation has ballooned from $72m to about $450m.

The matter also continues Maddocks’ run of helping tech companies with ECM transactions. The firm recently advised Atomos, as well as US-headquartered companies Revasum and Pivotal Systems with their public debut in Australia.