Baker McKenzie has acted as Australian and U.S. legal counsel to RBC Capital Markets and Morgans Corporate Limited, as joint lead managers of a fully underwritten AUD 50 million institutional placement by Megaport Limited (ASX:MP1) and a secondary AUD 10 million sell-down by Mr Bevan Slattery, Chairman of Megaport Limited.
Megaport's Software Defined Network (SDN) enables customers with fast, flexible, and on-demand connectivity to any services on the Megaport Ecosystem. The Megaport Ecosystem comprises a marketplace, where companies can multi-source their IT services needs, whether it be internet services, cloud service providers, managed services, hosted voice, all from the same platform. The company has an extensive footprint throughout Asia Pacific, North America, and Europe where customers can access the Network from 386+ locations.
Baker McKenzie's head of equity markets and a lead partner on the transaction, Craig Andrade stated: "We were delighted to act for our clients, RBC Capital Markets and Morgans Corporate Limited, as joint lead managers and underwriters on this strategic capital raise by Megaport which will provide funds for expansion into new markets and locations as well as for innovation and the development of new technology."
The deal was led by Craig Andrade, Antony Rumboll and Matthew De Cataldo, with assistance from Andrew Reilly and Paul Anderson on U.S. law aspects.