Capital raisings will allow both companies to pursue expansion plans
Independent firm Maddocks has advised on the capital raise of two tech companies.
The firm advised global video technology company Atomos Limited on the sale of over $27m worth of shares released from escrow and its raise of an additional $7.5m by way of an institutional placement. Maddocks previously advised Atomos on its listing in December 2018, which has seen its share price increase from 41 cents on listing to $1.00 per share under the placement which was at a discount to current trading price.
Maddocks is also advising leading artificial intelligence technology company Brainchip Holdings on its $6.7m capital raising by way of an accelerated non-renounceable entitlement offer and on a US$2.565m convertible note investment by an institutional investor.
The capital raisings will allow both companies to pursue expansion plans for their technology and launch of innovative new products.
The Maddocks team for both transactions was led by partner Catherine Merity and special counsel Rosamond Sayer, and included support from senior associate Suzette Caldaroni.
“We are very pleased to have been able to continue to support our clients Atomos and Brainchip in their secondary capital raisings to provide key development funding for launch of new products in these fast-growing industries,” said Merity.