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ABL advises Thorney Technologies on $25.3m capital raising

Capital Markets, Corporate and M&A
Blurred finance
Arnold Bloch Leibler has advised ASX-listed technology investment company Thorney Technologies (ASX: TEK) on its latest capital raising.

As announced to the ASX this week, Thorney Technologies will raise A$25.3 million via a fully-committed two-tranche placement of ordinary shares to institutional, sophisticated and professional investors. The funds will be invested in technology-related investments at all phases of the investment life cycle.   

Corporate partner Gavin Hammerschlag and lawyers Max Grunwald and Megan Hosiosky advised TEK on all aspects of the capital raising. Gavin Hammerschlag commented on the firm’s involvement: “We are pleased to have advised Thorney Technologies on another successful capital raising and look forward to continuing to work closely with Alex Waislitz and the Thorney team as they continue to pursue exciting investment opportunities and drive TEK’s success.”

In the ASX announcement, TEK Chairman, Alex Waislitz said: “We are delighted with the support shown by new and existing investors, with bids received well in excess of amounts raised under the Placement.”

In November 2020, Arnold Bloch Leibler advised Thorney Technologies on a A$37 million capital raising via a two-tranche institutional placement and a non-renounceable entitlement offer.

About Arnold Bloch Leibler

Arnold Bloch Leibler is a premium Australian commercial law firm renowned for advising clients on their most important transactions, commercial issues and disputes. From offices in Melbourne and Sydney, the firm provides advice to a diverse range of entrepreneurial Australian listed companies, private businesses, high-net-worth individuals and international corporations. The firm also has a dedicated public interest practice providing advice to charities and not-for-profit organisations relating to significant legal, social, environmental and cultural issues.

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