Sydney – Global law firm K&L Gates has acted for Australian technology and computer hardware distribution company Dicker Data Limited (ASX: DDR) on its fully underwritten institutional placement of new shares and share purchase plan (SPP).
The AU$65 million raised under the institutional placement and SPP will be used by Dicker Data as funding for the ongoing construction of its new distribution centre in Kurnell in NSW and continued investment in its recently established financial services arm “Dicker Data Financial Services.”
Dicker Data’s Chairman and CEO David Dicker said: “The funds raised under the institutional placement and SPP will be used to support Dicker Data’s long-term growth objectives, and to ensure that we remain well positioned as Australia’s leading value added technology distributor.”
The K&L Gates team that advised Dicker Data was led by Australian capital markets partner Russell Lyons and senior associates Joel Farina and Priscilla Ng.
Lyons stated: “We are pleased to have been able to support our longstanding client Dicker Data with its successful fundraising transaction, which was seamlessly executed during the height of recent financial market volatility.”
The institutional placement was fully underwritten by international investment bank JP Morgan.