Ashurst acts on capital raise of manufacturer in Victoria

Company share says right structure in place to “expand to high volume”

Ashurst acts on capital raise of manufacturer in Victoria

International law firm Ashurst has advised Victorian manufacturer Carbon Revolution in the issue of $73.4m million of convertible notes as part of a pre-initial public offering raising.

Ashurst partner Gaelan Cooney led the team, with support from counsel Marina Tinning.

Carbon Revolution is a global manufacturer of automotive single piece carbon fibre wheels which are 40% to 50% lighter than aluminium wheels at equivalent levels of strength and durability.

“We are delighted that the capital raising was so well supported by our existing shareholders and a number of new significant institutional investors,” said James Douglas, chair of Carbon Revolution.  “The business is now well capitalised and has the right structure in place to successfully expand to high volume and industrial scale.”

“This is surely one of the most exciting businesses in Australia if not the world,” said Jake Dingle, chief executive officer of Carbon Revolution. “We are the clear global leaders with a highly sought-after technology, with a team that is capable of fully capitalising on this advantage and building a truly world class industrial manufacturing facility. Our volume and cost trajectory now shows just how huge this opportunity is.”

Related stories

Free newsletter

Subscribe to our FREE newsletter service and we’ll keep you up-to-date with the latest breaking news, cutting edge opinion, and expert analysis affecting both your business and the industry as whole.

Please enter your email address below and click on Sign Up for daily newsletters from Australasian Lawyer.

Recent articles & video

10 elevated to senior roles in Kennedys Australia in landmark promotions round

Clifford Chance flexes renewable energy muscle on $180m Victorian wind farm investment deal

Legal legend Ruth Bader Ginsburg loses cancer battle

UK insurance test case ruling is ‘an important decision for Australian policyholders,’ HSF says

Hall & Wilcox, G+T advise on investment in smartphone mount startup

Brexit battle leads to resignation of UK government’s longest-tenured justice minister

Most Read Articles

‘I used to work myself too hard and complain about it, but not anymore’

Clifford Gouldson Lawyers elevates five

Lander & Rogers reveals new look in rebranding initiative

UK insurance test case ruling is ‘an important decision for Australian policyholders,’ HSF says