Media Release: Clayton Utz advises Fleetwood Corporation on its $60 million equity raising and acquisition of Modular Building Systems
Perth, 25 July 2018: Clayton Utz has advised ASX-listed Fleetwood Corporation Limited (Fleetwood) on its $60 million raising via a $22 million placement to sophisticated and institutional investors and a $38 million (1 for 2.9) accelerated non-renounceable entitlement offer, announced to the market today. The raising is fully underwritten by Euroz Securities Limited.
Perth corporate advisory/M&A partner Mark Paganin and special counsel Liz Humphry led the Clayton Utz team, which included lawyer Ben Depiazzi.
The funds raised will be used to fund the acquisitions of Sydney-based modular building manufacturer, Modular Buildings Systems (on which Clayton Utz also advised) and Melbourne-based caravan plumbing and electrical services and parts supplier, Northern RV, as well as working capital requirements.
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