Sparc Technologies Limited GTS. Sparc Technologies recommenced trading on the ASX on 23 November making a strong debut with shares.
HWL Ebsworth has advised Sparc Technologies on the deal.
Sparc Technologies Limited acquired and backdoor listed Graphene Technology Solutions (GTS). Sparc Technologies recommenced trading on the ASX on 23 November making a strong debut with shares trading up to 90% higher than the IPO price.
The listing and acquisition process included a prospectus offering of 20 million shares at $0.20 each, successfully raising $4 million.
Following the acquisition of South Australian based GTS, Sparc Technologies’ core business will transition from coal and mineral exploration to the development and commercialisation of graphene-based products including marine and protective coatings, environmental remediation and metals recovery from tailings.
The HWL Ebsworth team was led by Shaun Hardcastle (Picture – Partner) assisted by Jeremy Newman (Special Counsel), Nick Harrison (Solicitor) and Charlotte Griffin (Solicitor).
Discovery Capital Partners acted as corporate advisors and Morgans Corporate Limited acted as lead manager and underwriter.
Originally published at Global Legal Chronicle