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Clayton Utz acts on $41m equity raising
Clayton Utz has advised ASX-listed NEXTDC as the company raises equity for the third time in 16 months.
The New Lawyer
The firm advised on the underwritten placement of $41.39 million, and a Share Purchase Plan offer to existing shareholders.
Tony Lalor, a partner at Clayton Utz’s Brisbane corporate practice, led the transaction for NEXTDC, backed by corporate partner Tim Reid and solicitor John Whitehill.
The non-underwritten Share Purchase Plan is aiming to raise a further $10 million from existing shareholders of NEXTDC.
NEXTDC is delivering next generation data centres in Brisbane, Melbourne, Canberra, Perth and Sydney.
The company and data centre services provider will use the capital raised to fund the acceleration of the fit-out in various data centres and associated costs, additional working capital and other strategic opportunities.
Clayton Utz has acted for NEXTDC from the start of the deal, including in its successful IPO and ASX listing in 2010 and further capital raising rounds in April and August 2011.
Corporate partner Tim Reid said the firm was proud to have established a long-term relationship with NEXTDC.
"It is satisfying to be a part of a client's growth story, and support it in achieving its commercial objectives. We are pleased to have worked alongside NEXTDC on this latest capital raising."
