Herbert Smith Freehills advises thedocyard Limited on its merger with Ansarada NewCo Pty Ltd and its associated A$45 million capital raise

Herbert Smith Freehills is proud to have advised thedocyard Limited, now named Ansarada Group Limited (Ansarada Group), on its merger with Ansarada NewCo Pty Ltd (Ansarada) together with the associated capital raise, priced at A$1.48 a share, raising A$45 million for a A$131.3 million market capitalisation.

The Ansarada Group is a global provider of cloud-based information governance solutions, providing end-to-end document and process management to support critical decisions and events for organisations throughout their lifecycle. The Ansarada Group’s core products include market leading Virtual Data Rooms, a highly secure Board Portal, Ansarada’s compliance and governance Pathways product, and thedocyard’s legacy workflow software.

The deal team was led by Herbert Smith Freehills partners Clayton James and Philip Hart, together with solicitor Catie Moore, and supported by partner and Head of Venture Capital (Australia) Peter Dunne, Co-Head of Venture Capital (Australia) Elizabeth Henderson, and solicitors Myra Beal and Emily Paterson.

Clayton James said, “Given the fact that we use the Ansarada Group’s products on almost a daily basis, we were excited to be involved with this landmark transaction. This was a complex deal involving a merger, a backdoor listing and an associated capital raise, however both thedocyard and Ansarada teams did a brilliant job. We look forward to the next stage of the Ansarada Group’s journey”.

Philip Hart said, "We are delighted to have assisted thedocyard on its successful merger with Ansarada and are very pleased that the Herbert Smith Freehills team was able to assist on this significant achievement. It was a pleasure working with thedocyard and Ansarada teams, and we wish them every success in the future".

Morgans Corporate Limited and Moelis Australia Advisory Pty Ltd acted as joint lead managers and financial advisers on the transaction.

This transaction is a testament to Herbert Smith Freehills’ market-leading position, not only in relation to complex equity capital markets transactions but also as an advisor to Australia’s leading technology companies.