Coghlan Duffy + Co advises Tractor Ventures

14 December 2020

Coghlan Duffy + Co has advised prominent angel investors and long-time clients, Matt and Aprill Allen, on the launch of their new investment fund, Tractor Ventures.

Tractor Ventures brings together a formidable team of mentors and investors who are focused on addressing demand among early stage start-ups for alternative funding models to traditional venture capital.

The CD + Co team was led by Director, John Coghlan, Associate, Laura Morgan and Lawyer, Marcus Triado.

For more information about the fund, please see today’s article in the AFR.

For further information, contact:

John Coghlan | Director
T: +61 3 9614 2444  
E: jcoghlan@cdandco.com.au

Coghlan Duffy + Co is a boutique corporate and commercial law firm based in Melbourne, serving clients from ‘idea to IPO’.

The firm is proud to provide legal strategies and solutions to an enviable list of clients, including prominent Australian start-ups and ASX-listed companies.

A: Level 42, Rialto South Tower, 525 Collins St VIC 3000
T: +61 3 9614 2444
W: cdandco.com.au

Coghlan Duffy + Co advises Montu on record equity crowdfunding campaign

20 October 2020

Melbourne-based medicinal cannabis company, Montu, has created Australian crowdfunding history by being the fastest stock to reach its minimum target. Montu raised a record $300,000 in 59 minutes and $1 million in 36 hours. The crowdfunding offer remains open until 5 November 2020 and Montu is well on the way to raise a maximum of $2 million via crowdfunding platform, Birchal.

Coghlan Duffy + Co were delighted to act for Montu on this ground-breaking capital raise. The CD + Co team was led by Director, John Coghlan, and Lawyer, Marcus Triado.

Founded in 2019, Montu’s vision is to become a trusted prescription medicine partner to Australian doctors and enable patients to readily access medicinal cannabis treatments. Montu is already making significant strides, by rapidly expanding its network of doctors and growing its revenue at a rate of 40% month on month. The funds raised will be used for accelerating its expansion across Australia and New Zealand.

For more information about this transaction, please refer to Montu’s crowfunding campaign on Birchal, as well as articles on Business Insider and Stockhead.

For further information, contact:

John Coghlan | Director
T: +61 3 9614 2444  
E: jcoghlan@cdandco.com.au

Coghlan Duffy + Co is a boutique corporate and commercial law firm based in Melbourne, serving clients from ‘idea to IPO’.

The firm is proud to provide legal strategies and solutions to an enviable list of clients, including prominent Australian start-ups and ASX-listed companies.

A: Level 42, Rialto South Tower, 525 Collins St VIC 3000
T: +61 3 9614 2444
W: cdandco.com.au

CD+Co - The Year That Was

12 June 2020

The past few months have obviously challenged most businesses.

Professional services firms – such as ours – have not been immune from a reduction in deal flow and turnover.

Nevertheless, it would be remiss of us not to celebrate and commend our team on what has otherwise been an outstanding year for the firm, with highlights that demonstrate how far we have come in less than 6 years to be one of the go to firms for entrepreneurial clients.

Among the many highlights over the last 12 months, we have helped:

• Amaero International Limited (ASX: 3DA) on its IPO and listing on the ASX (after completing an oversubscribed offer of shares raising $8M);

• Founders First Limited (ASX: FFL) (the first and only alcoholic beverage accelerator in Australia) on its IPO and listing on the ASX (raising ~$15.8M) after having assisted the Company in mid to late 2019 on its:

  • pre-IPO capital raises netting over $21M; and

  • acquisitions and substantial investments into 9 breweries and distilleries located around Australia.

• Practice Ignition on its AUD$26M Series D capital raise (one of the larger capital raises for a local start-up business, led by NY-based Tiger Global Management);

• Splitit Payments Ltd (ASX: SPT) on its AUD$16M placement in May 2020, after assisting with a AUD$30.3M raise in May 2019; 

• BetMakers Technology Group Ltd (ASX: BET) on placement raising AUD$2.76M; 

• Red Piranha Limited on its $2.5M capital raising in November 2019;

• Factor Holdings Limited (Taiwan) flip-up restructure to an Australian company, Factor Bikes Pty Ltd and subsequent $2M convertible note investment round;

• Active Utilities on the sale of 25 per cent stake in its business to Macquarie Bank;

• Drawboard on its $9M capital raise for US expansion (completed in the midst of the COVID-19 crisis);

• Sky High Ventures on its 100% acquisition of the Boss Australia business;

• the selling shareholders in Network2Share on their $5M sale to ASX listed, Rhipe; 

• York Butter Factory co-working space on its expansion into the Sydney market; and 

• various other seed capital raises for start-up clients based throughout Australia and others we can't talk about publicly.

We have also continued to champion entrepreneurship and innovation within and outside of the profession. For that reason, we continue to support Start Up Victoria as an industry partner, contributor to events and member communications, and by providing complimentary legal services to the winner of pitch-night contests, and pro-bono legal support to the board of the organisation.

Another highlight during the last 12 months was co-sponsoring, together with Pitcher Partners, the LAUNCH Festival (which is the largest startup event in the world), held in Sydney. The event attracted founders, angel investors, VC funds and other industry stakeholders to engage in meaningful debate and discussion about the future of angel investing, hosted by the inimitable Jason Calacanis.

We are appreciative of all of our clients. Thank you for your continuing support.

We could not be prouder of our team. We are a firm that punches above its weight only because of the calibre of the people that we have.

We look forward to what the future holds and the new opportunities that it brings. Onwards and upwards!

For further information, contact:

John Coghlan | Director
T: +61 3 9614 2444  
E: jcoghlan@cdandco.com.au

Coghlan Duffy + Co is a boutique corporate and commercial law firm based in Melbourne, serving clients from ‘idea to IPO’.

The firm is proud to provide legal strategies and solutions to an enviable list of clients, including prominent Australian start-ups and ASX-listed companies.

A: Level 42, Rialto South Tower, 525 Collins St VIC 3000
T: +61 3 9614 2444
W: cdandco.com.au

Coghlan Duffy + Co advises Sky High Ventures on its successful acquisition of the Boss Air Suspension business

5 May 2020

Sky High Ventures Pty Ltd, an investment vehicle for entrepreneur Tony Stewart, recently completed its acquisition of all of the assets of Boss Air Suspension for an undisclosed amount. Sky High Ventures is a Gold-Coast based manufacturer, wholesaler and retailer of premium quality air suspension products and technology.

Coghlan Duffy + Co were delighted to act for Sky High Ventures on its strategic acquisition.

The transaction includes a licence agreement with the US-based brand’s former parent company, Boss Global LLC, together with a long-term lease of the Queensland factory premises where local manufacturing of various air suspension technologies will continue and is envisaged to grow.

Tony Stewart said, ‘We obviously believe in the Boss brand and product lines and the strength of the operations to date. We also believe in Australian manufacturing: producing high-quality products locally and making those available direct to customers. Our plan is to steadily build the business, work with the US-based founders, and make the most of the opportunities that arise.’

The CD+Co team was led by Director, John Coghlan and Senior Associates Zain Kazi and Sarah Ward.

VT Advisory principal, Thomas Palmieri, advised Sky High Ventures on the business and tax aspects of the transaction.

For further information, contact:

John Coghlan | Director
T: +61 3 9614 2444  
E: jcoghlan@cdandco.com.au

Coghlan Duffy + Co is a boutique corporate and commercial law firm based in Melbourne, serving clients from ‘idea to IPO’.

The firm is proud to provide legal strategies and solutions to an enviable list of clients, including prominent Australian start-ups and ASX-listed companies.

A: Level 42, Rialto South Tower, 525 Collins St VIC 3000
T: +61 3 9614 2444
W: cdandco.com.au

Coghlan Duffy + Co advises Drawboard on $9M capital raise for US expansion

1 April 2020

Melbourne based start-up, Drawboard, recently released details of its $9M capital raise to facilitate its growth and expansion plans in the US. The investment round was led by US-based VC fund, Blackhorn Ventures and was supported by Steve Baxter’s TEN13.

Coghlan Duffy + Co were delighted to act for Drawboard on this strategic and important capital raise. The CD + Co team was led by Director, John Coghlan, Senior Associate, Zain Kazi and Lawyer, Carolin Darmanin.

Drawboard’s vision is to replace pen and paper, reduce waste and encourage sustainability. With more than one million global users and clients such as Santos and AECOM utilising its two software products, the funds will allow Drawboard to capitalise on broader opportunities in international markets.

Drawboard’s founder, Alistair Michener said in connection with the transaction: ‘this capital raise allows us to grow our presence in the Australian and US markets. The need for remote access and digital collaboration on documents and the movement towards a paper-less office environment is ever-growing – the recent health crisis has forced many businesses to consider how they may be able to work remotely more effectively.’

Speaking about the raise, John Coghlan said that it represented a ‘significant and exciting step in Drawboard’s evolution’ as the business looks, in particular, to capture more of the lucrative US market. ‘We have had the pleasure of acting for Drawboard for nearly 6 years and, in that time, witnessed firsthand their dedication to creating incredible software’, said John. ‘It is no surprise that they continue to grow from strength to strength’.

For more information about this transaction, see the recent article in the AFR.

For further information, contact:

John Coghlan | Director
T: +61 3 9614 2444  
E: jcoghlan@cdandco.com.au

Coghlan Duffy + Co is a boutique corporate and commercial law firm based in Melbourne. The firm is proud to work with an enviable list of clients, including prominent Australian start-ups and ASX-listed companies.

A: Level 42, Rialto South Tower, 525 Collins St VIC 3000
T: +61 3 9614 2444
W: cdandco.com.au

Coghlan Duffy + Co Lawyers advises Founders First Limited on its IPO and ASX listing

17 December 2019

We are proud to have acted as legal adviser to Founders First Limited’s (Founders First) initial public offering (IPO) and listing on the Australian Securities Exchange which completed today. Founders First’s shares floated under the ASX ticker code ‘FFL’ at $0.50 per share after raising approximately $15.8m (before costs).

The listing demonstrates Coghlan Duffy + Co Lawyers’ (CD+Co) expertise in serving entrepreneurial clients anywhere from ‘Idea to IPO’. In this case, the CD+Co team was there each step of the way: having advised Founders First on its formation in late 2017, subsequent equity investment rounds (raising in excess of $24M), its investments in portfolio craft beverage assets and the IPO.

Many of the CD+Co team have supported Founders First to reach this important milestone: John Coghlan, primarily assisted by Sarah Ward, assisted with the acquisition due diligence and legal documentation relating to the multiple investments and acquisitions undertaken pre-IPO, while Charly Duffy, primarily assisted by Laura Morgan, led the prospectus drafting, due diligence and ASX listing workstreams.

Founders First is a proudly independent and Australian-owned craft beverage accelerator established by a group of leading liquor industry professionals. Founders First invests in select craft beverage assets alongside their founders and accelerates their growth through the operation of world class venues, the provision of capital and sales and marketing, supply chain and management expertise. By listing on the ASX, Founders First is offering shareholders a direct interest in a portfolio of high-growth craft beverage businesses which are poised to benefit from the comprehensive sales, marketing and distribution expertise of Founders First’s ‘Indie Collective’ services team.

Charly Duffy commented: “We are really proud to have worked with the Founders First team as it achieved incredible growth in such a short space of time. To have completed a successful ASX listing in challenging market conditions within 2 years of starting its business is an unbelievable achievement. I’m really proud of how our team combined its comprehensive and practical equity capital markets experience with our M&A expertise to help Founders First achieve this significant milestone.”

Managing Director of Founders First, Mark Haysman, commented: “As a young company with bold plans for growth, listing on the ASX has been a strategically important step for Founders First. Partnering with the team at Coghlan Duffy + Co ensured our journey to a successful listing today has been an informed, prepared and engaged one. I'd like to thank the Coghlan Duffy + Co team for their round-the-clock support, expert advice and hands-on approach to providing counsel and input into the Founders First IPO.”

For further information, contact:

Charly Duffy | Director
T: +61 3 9614 2444  
E: cduffy@cdandco.com.au

Coghlan Duffy + Co is a boutique corporate and commercial law firm based in Melbourne. The firm is proud to work with an enviable list of clients, including prominent Australian start-ups and ASX-listed companies.

A: Level 42, Rialto South Tower, 525 Collins St VIC 3000
T: +61 3 9614 2444
W: cdandco.com.au

Coghlan Duffy + Co advises Amaero International Limited on IPO

16 December 2019

Amaero International Ltd (Amaero) - an innovative, Australian-based additive manufacturing specialist – has completed its initial public offering (IPO) and listing on the Australian Securities Exchange (ASX). Coghlan Duffy + Co Lawyers (CD+Co) is proud to have acted as legal adviser to Amaero’s IPO.

Amaero’s shares floated under the ASX ticker code ‘3DA’ at $0.20 per share after completing an oversubscribed offer of shares raising $8m (before costs).

Amaero manufactures large format complex components in metal using laser-based additive manufacturing processes. Additive manufacturing, also known as 3D printing, builds three-dimensional objects from a computer aided design (CAD) model and adding material layer-by-layer. Amaero uses these 3D printing techniques to make components out of metal alloys for its clients across a range of industries including industrial manufacturing, research & development, aerospace and defence.

Amaero’s business was established with the support of Monash University in 2013 to commercialise the opportunities that had been identified by the Monash Centre for Additive Manufacturing. Amaero now has access to facilities in Melbourne, Adelaide and Los Angeles, California, USA.

The CD+Co team, led by Charly Duffy and assisted by Carlie Hodges and Carolin Darmanin, thoroughly enjoyed working with Amaero in respect of its IPO. The CD+Co team leveraged their in-depth experience with ASX-listed clients in navigating the technical IPO process to a successful outcome.

Charly Duffy commented: “It has been fantastic working with such an innovative and progressive team at Amaero. Additive manufacturing is an exciting emerging space so we were delighted to work with Amaero as legal adviser in relation to its IPO. I am really proud of our team’s dedication and equity capital markets skills which enabled us to deliver a great legal result for Amaero.”

For further information, contact:

Charly Duffy | Director
T: +61 3 9614 2444  
E: cduffy@cdandco.com.au

Coghlan Duffy + Co is a boutique corporate and commercial law firm based in Melbourne. The firm is proud to work with an enviable list of clients, including prominent Australian start-ups and ASX-listed companies.

A: Level 42, Rialto South Tower, 525 Collins St VIC 3000
T: +61 3 9614 2444
W: cdandco.com.au

Coghlan Duffy + Co advises Practice Ignition on AUD$26M Series D capital raise led by Tiger Global Management

6 December 2019

We are pleased to have acted for Practice Ignition on its recent AUD$26 million Series D capital raise.

The raise was led by Tiger Global Management and was backed by Right Click Capital and Craig Winkler (co-founder of MYOB and Xero board member).

Practice Ignition’s cloud-based accounting software offers accountants and bookkeepers an alternative way to engage and manage client relationships, allowing them to onboard clients, process payments, automatically raise invoices and deploy workflow via connected third-party apps.

This raise was an exciting development in the Company’s trajectory to date and the Company plans to use the funds to further expand Practice Ignition’s specialist team and build deeper relationships with its ever-expanding global customer base.

The CD + Co team was led by John Coghlan, Director, Sarah Ward, Senior Associate and Laura Morgan, Lawyer.

Tiger Global Management was represented by Gunderson Dettmer, a US law firm, together with Malika Chandrasegaran, Partner and Francine Kinkade, Senior Associate of Herbert Smith Freehills.

For further information, contact:

John Coghlan | Director
T: +61 3 9614 2444  
E: jcoghlan@cdandco.com.au

Coghlan Duffy + Co is a boutique corporate and commercial law firm based in Melbourne. The firm is proud to work with an enviable list of clients, including prominent Australian start-ups and ASX-listed companies.

A: Level 42, Rialto South Tower, 525 Collins St VIC 3000
T: +61 3 9614 2444
W: cdandco.com.au