Deal profile | Gadens advises Racing and Sports on a new strategic partnership with Waterhouse VC

Gadens has advised RAS Technology Holdings Limited (ASX: RTH) (RAS) on a strategic partnership with gaming and wagering industry investor, Waterhouse VC.

The partnership will boost RAS’ growth by broadening its opportunities and strengthening its business pipeline.

Under the terms of the strategic partnership, Waterhouse Contractor Pty Ltd, Waterhouse VC’s service company, will deliver advisory services focused on sales referrals, acquisitions, and various commercial deals, leveraging Racing and Sports’ key products and services, including their trading technologies, full racing solution stack, and high-quality content and analytics.

Gadens advised on the negotiation of the strategic partnership agreement pursuant to which, in addition to the provision of advisory services, Waterhouse VC agreed to subscribe for a strategic investment in RAS of a share and option package comprising up to 15% of the total issued share capital in RAS including a $1.3 million upfront placement.

Lead partner Jol Rogers, said: “We are delighted to have assisted the RAS team on this exciting strategic partnership and to see the opportunities that the partnership can unlock to support RAS’s growth throughout Australia and globally.”

Gadens continues to support RAS on its growth journey, having advised on its successful listing on the Australian Securities Exchange (ASX) in 2021.

Practice groups: Corporate

Value: N/A

Key team members: The transaction was led by corporate partner Jol Rogers who was supported by Gary Lim (Special Counsel).