King & Wood Mallesons (KWM) is pleased to announce it has advised Namoi Cotton Limited (Namoi Cotton) on its equity raising of approximately A$14 million, by way of an underwritten renounceable pro-rata entitlement offer (Offer). The Offer included an oversubscription facility and was sub-underwritten by Namoi Cotton’s two largest shareholders. Morgans acted as lead underwriter.
Namoi Cotton will use the proceeds of the capital raising to fund its investment in Kimberley Cotton Company Limited and its new Kununurra Cotton Gin in northern Western Australia, and to reduce debt to manage variable seasonal conditions.
The KWM team advising on the transaction was led by partner Rhys Casey and senior associate Matt McKeown, with support from solicitors Kate Cincotta and Piper Guthrie.
Commenting on the transaction, Matt McKeown said: “We are very pleased to have supported our valued client Namoi Cotton on this important raising, which has received strong support from its shareholders.”
KWM has a proud relationship with Namoi Cotton having advised on its previous capital raising in 2021 and is a leading adviser in the Food & Agribusiness sector.
