Thomson Geer advised 5 funds who held convertible debt instruments in external data management platform DemystData. DemystData was being acquired by Feedzai Inc., the world’s first end-to-end financial crime prevention platform, for A$157 million.
Thomson Geer advised the funds on their rights but also navigated a very complex capital structure and offer structure to ensure that a deal that enabled them to achieve liquidity in the context of the transaction. They advised on an Implementation Deed between various securityholders and the ultimate Sale Agreement to the extent it affected their interests.
The deal was extremely complex and had very tight timing.
There was the possibility the deal fell over and the company may not have sufficient runway to survive given no prospects of recapitalisation (rendering potentially full investment loss).
The Thomson Geer team was led by Partner Venkatesh Ananthakrishnan and supported by Associates Felicity Thurgate and Leonard Kowik.