Photon raises capital

Mallesons Stephen Jaques has acted for underwriters UBS and Macquarie on the $102.5 million recapitalisation undertaken by marketing services group, Photon, following its strategic review. The…

Lawyers Weekly • 18 August 2010 • Big Law

Mallesons Stephen Jaques has acted for underwriters UBS and Macquarie on the $102.5 million recapitalisation undertaken by marketing services group, Photon, following its strategic review.

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The capital raising involves the issue of approximately 1.52 billion shares, at 10 cents per share, to both existing and new shareholders.

The Mallesons team comprised mergers & acquisitions partner Dave Friedlander, senior associate Mark Bryant and solicitor Avi Naidu.

Dave Friedlander said: "The outcome is testament to the hard work of the new Photon management and the Macquarie and UBS teams. Regulatory issues and a challenging market gave the deal its share of twists and turns but it is a great outcome for the company."

Gilbert + Tobin acted for Photon.

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