DLA Piper advises Nearmap on AUD92 million equity raising

Global law firm DLA Piper has advised ASX 200 technology company Nearmap Ltd (ASX: NEA) on its underwritten AUD72.1 million institutional placement and its non-underwritten Share Purchase Plan that aims to raise a further AUD20 million. 

Founded in Perth in 2007, Nearmap provides businesses around the world instant access to high resolution aerial imagery, city-scale 3D datasets, and integrated geospatial tools.

The funds will be used to accelerate growth opportunities, including deeper penetration into Nearmap’s strategic growth verticles, acceleration of the roll-out of HyperCamera3 systems and investment in operational systems and data to support rapid scaling.

DLA Piper’s team was led by Head of Equity Capital Markets, David Ryan, with special counsel Kelly Morrison, senior associate Elliott Cheung, solicitor Ellie Harding and graduate Charlie Lian.

David Ryan said: "We are delighted to have worked with Nearmap on another key transaction in their impressive history. It is a pleasure to advise Nearmap as it continues its growth journey, evolving from a start-up to next-gen digital content leader."

This deal comes on the back of DLA Piper recently advising on several high profile capital raisings during 2020, including advising Webjet Limited (ASX:WEB) on its AUD346 million equity raise and EUR100 million convertible note offering, Nickel Mines Limited (ASX:NIC) on its AUD231 million equity raise and HMI Capital on its investment in oOh!media as part of its AUD167 million equity raising.