Gadens has advised Aussie Broadband Limited on its $262m acquisition of 100% of Symbio Holdings by way of a scheme of arrangement offering Symbio shareholders a mix of cash and scrip consideration.

Gadens led a large team of local and foreign counsel through all phases of the deal from the initial approach to implementation.

Gadens also advised Aussie Broadband on its associated equity capital raising to raise $140m, which comprised an institutional placement to raise $120m and a share purchase plan to raise $20m.

Aussie Broadband is an Australian operated telecommunications and technology company that formed in 2008 in Morwell, Victoria. Aussie Broadband is the 5th largest provider of broadband services in Australia and is one of only six tier 1 voice providers in Australia.

Gadens advised ABB on its initial public offering in late 2020 and has subsequently advised on a range of secondary capital raises and major M&A including its acquisition of Over the Wire Holdings Ltd (ASX: OTW) in March 2022.

Commenting on the transaction, lead partner Jol Rogers said:

“We are delighted to have supported Aussie Broadband’s Board and management team on yet another significant acquisition. The transaction demonstrates ABB’s exciting growth trajectory.”