27 July 2021
Global law firm K&L Gates has acted for fintech business Butn Limited (ASX: BTN) on its AU$12.5 million pre-Initial Public Offer (pre-IPO), strategic partnership with KKR owned MYOB Limited and successful capital raising and IPO.
The oversubscribed IPO raised AU$20 million which will be used to fuel the growth plans of the business. Butn engages in B2B invoice factoring and is developing key platform partnerships for its services including with MYOB Limited.
Butn's Joint CEOs, Rael Ross and Walter Rapoport said: "Our listing is a significant milestone for our company. We’re excited about delivering our next phase of growth and we welcome our new investors on this journey."
The K&L Gates team that advised Butn was led by capital markets and corporate/M&A partner Harry Kingsley supported by special counsel Kaveh Zegrati, lawyers Alex Garfinkel and Karla Hodgson, graduate Peter Keeran, and a broader team of lawyers Australia-wide. Financial services advice was provided by partner and fintech authority Daniel Knight and lawyer Simon Kiburg. Technology and privacy advice was provided by partner Cameron Abbott and special counsels Rob Pulham and Warwick Andersen.
Melbourne based partner, Harry Kingsley commented: "We are very pleased to have been able to assist Butn with its successful pre-IPO, MYOB partnership and ASX listing. Butn is a unique company that has taken a traditional business model and automated it to provide a scaleable cash flow solution to the wider B2B market.
We congratulate the Butn team and very much look forward to being part of the company's future growth and success."
Canaccord Genuity (Australia) Limited served as lead manager, underwriter and bookrunner for the pre-IPO and IPO.
