Addisons continues to demonstrate its leadership in the mid-market corporate sector with yet another successful share placement, this time for Ainsworth Game Technology.
The Addisons team, led by partner Laura Hartley and Senior Associate Kristy Dixon, acted for Ainsworth in relation to the company’s underwritten placement of shares to raise $44 million.
The placement to institutional investors was conducted by way of bookbuild that was more than three times oversubscribed at $1.47 per share.
Macquarie Capital was the book runner and underwriter and they were represented by Baker & McKenzie.
Ainsworth is seen as one of the hottest small caps this year with shares up around 220 per cent.
This placement follows recent corporate work including capital raisings and M&A transactions on which Addisons has acted for clients such as Bega Cheese, Betchoice, InvoCare and Sportingbet highlighting the capability of Addisons to deliver on these types of transactions.