G+T has advised IMDEX Limited (ASX:IMD) on its A$224 million equity raising to fund the proposed acquisition of Devico AS.
IMDEX, founded in 1980, is a leading global mining technology company that enables drilling contractors and resource companies to safely find, define and mine orebodies with precision and at speed.
IMDEX intends to raise up to A$224 million via an underwritten institutional placement, a 1 for 6 accelerated non-renounceable entitlement offer and a non-underwritten conditional placement to partly fund the proposed acquisition.
Speaking of the equity raise, Simon and Sarah said “It has been a pleasure advising the great team at IMDEX on this equity raising to fund the Devico acquisition. The funding and the acquisition will give IMDEX a much larger global footprint allowing IMDEX to grow its already successful business”