ASX debut sizzles with SPB’s counsel

The US payments company closed its first day on the ASX up 80%

ASX debut sizzles with SPB’s counsel

Squire Patton Boggs has helped ensure one of the largest IPOs this year in Australia succeeded.

The international firm advised US payments company Sezzle on its IPO, which raised $43.6m. The company raised US$5.6m prior to the IPO in the US. Squire Patton Boggs said that the IPO was heavily oversubscribed. Listed on the ASX on 30 July at a market capitalisation of $217m, Sezzle closed its first day on the ASX up 80%, with a market capitalisation of $391m.

Funds raised will be used primarily for the company’s growth strategy, with a focus on identifying and capturing future growth opportunities in the buy-now-pay-later sector and the retail merchant base and product offering, Squire Patton Boggs said.

Most Read

The firm’s team was headed by corporate partner Simon Rear, supported by associate Michael Van Der Ende. The firm’s US team was also involved, headed by partner Richart Horton and of counsel Leah Brownlee.

Squire Patton Boggs said that the deal shows its strength in complex multijurisdictional capital markets transactions and cross-border fundraisings.

Simon Rear

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

Cooper Grace Ward partner looks forward to more flexible work arrangements in the long term

Multidisciplinary team from HSF pitches in on global acquisition

Committee urges UK Ministry of Justice to boost support to legal service providers

Carroll & O’Dea Lawyers promotes 11

KWM assists fintech company on acquisition and $170m capital raising

Outgoing US bar president asks lawyers to step up against racial injustice in final address

Most Read Articles

Ashurst snaps up PwC partner

Bird & Bird partner believes that sports is ‘a force for good’

Clayton Utz represents in $643m sale of Rialto Tower interest

Moulis Legal appoints new partner