---
title: Kelley Drye Represents Australia Acquisition in IPO
date: 2010-12-09T00:00:00-05:00
author: Import Bot
canonical_url: "https://www.kelleydrye.com/news/kelley-drye-represents-australia-acquisition-in-ipo"
section: News
---
# Kelley Drye Represents Australia Acquisition in IPO

 December 9, 2010

 

 

 

 

 

 

On November 19, 2010, Australia Acquisition Corp. closed its initial public offering of 6.4 million units at a price of $10.00 per unit. Each unit issued in the IPO consists of one ordinary share and one warrant to purchase one ordinary share at an exercise price of $11.50 per ordinary share. Prior to the effectiveness of the public offering, the company consummated a private placement to the company’s management team of 8 million insider warrants at a purchase price of $.50 per warrant.

The IPO and private placement generated gross proceeds of $68 million for the company. Cohen & Company Capital Markets, LLC acted as the sole book running manager and representative of the underwriters of the offering. I-Bankers Securities, Inc. and EarlyBirdCapital, Inc. were co-managers of the offering. Kelley Drye and Appleby were counsel to Australia Acquisition. Ellenoff Grossman & Schole LLP were counsel to the underwriters.

Australia Acquisition Corp. is a newly-formed blank check company with the purpose of acquiring or acquiring control of one or more as of yet unidentified operating businesses or assets through a merger, capital stock exchange, asset or stock acquisition, exchangeable share transaction or other similar business transaction. While not limited to a particular industry or geographic region, it intends to focus on operating businesses that have their primary operations in the Commonwealth of Australia.

Reuters, Morningstar​.com and multiple other news outlets reported on this transaction.

Attorney **Wendy A. Clarke** represented Australia Acquisition in this matter.

 

 

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