Baker McKenzie recently acted for Bell Potter, in its role as sole lead manager and underwriter to Mesoblast Limited's fully underwritten institutional placement, which raised approximately $52.5 million. The proceeds from the placement will be used by Mesoblast for its ongoing Phase 3 clinical programs including chronic heart failure, as well as for manufacturing requirements associated with product commercialisation.
Mesoblast is a world leader in delivering innovative cell-based medicines and is dual-listed on the ASX and Nasdaq.
Bakers McKenzie lead partner on the deal, Lauren Magraith stated:
One of the interesting features of the transaction saw Mesoblast apply to ASIC for relief, so that it could use the cleansing notice regime for the purposes of the placement, despite its securities having been suspended from trading for more than 5 days in the previous 12 months.
Lauren was assisted by Baker McKenzie senior associate, Hoda Nahlous.
This transaction follows Baker McKenzie's recent roles in advising Emeco Holdings Limited on its recapitalisation, acquisitions of Orionstone and Andy's Earthmovers and $20 million entitlement offer, Platinum Equity in acquiring Staples Australia and New Zealand, Chow Tai Fook on its $4 billion purchase of Alinta, Afterpay on its $600 million merger with Touchcorp, Billabong on its $60 million sale of Tiger Lilly to Crescent Capital Partners, Aurrum and the Home Investment Consortium on their $800 million acquisition of the Masters Hardware business from a Woolworths / Lowes joint venture, BigAir Group on its $200 million takeover of Superloop, Hanesbrands on its $1.1 billion takeover of Pacific Brands, Accolade Wines on its acquisition of Lion's premium wine business, Pact Group on its $90 million acquisition of Australian Pharmaceutical Manufacturers.