Kelley Drye Represents Australia Acquisition In IPO

Monday, January 3, 2011 - 01:00

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.

Kelley Drye & Warren LLP is pleased to announce that five of the firm's leading International Trade practitioners have been recognized by their clients and peers in the 2010 Guide to the World's Leading International Trade Lawyers. The guide's ranking includes Washington, D.C. partners Kathleen W. Cannon, Michael J. Coursey, David A. Hartquist, Laurence J. Lasoff, and Paul C. Rosenthal.