hopgoodganim works on $13m acquisition

http://www.thenewlawyer.com.au/article/HopgoodGanim-works-on-13m-acquisition/532272.aspx

HopgoodGanim works on $13m acquisition

24 October 2011 | by The New Lawyer .

LAW firm HopgoodGanim has advised New York-based investment fund manager Lind Partners on the $13 million acquisition of existing secured convertible notes in ASX-listed Metal Storm Limited, and the establishment of a separate equity line of $900,000 with Metal Storm.

According to partner Michael Hansel, who led the team at HopgoodGanim on the deal, raising capital through flexible equity funding arrangements is becoming an increasingly popular option for Australian companies.

“HopgoodGanim has advised on a number of equity line transactions in recent times. These types of arrangements offer a real opportunity for companies who would otherwise be unable to secure capital or debt funding from more traditional sources, such as banks or institutional placements.”

He said Lind Partners invests across a broad range of industries and economic environments, and is one of many US-based companies looking to secure equity in Australian companies.

“Americans are certainly looking to increase their exposure in Australian markets, possibly to diversify their investments and spread their risk.

“This appetite for Australian investment is something that companies across the country can take advantage of in order to raise capital for expansion programs or to reduce debt.”