Busy Start for Biztech with Openmarkets’ US$90m NASDAQ Deal

“Openmarkets has signed a deal with Nasdaq-listed blank check company Broad Capital Acquisition Corp at an estimated valuation of $US90 million to (if performance-related earnouts are added) $US110 million.” writes Street Talk journalists Anthony Macdonald, Sarah Thompson and Kanika Sood, an award-winning senior journalist covering technology and healthcare for the Australian Financial Review.

Congratulations to our fintech client clearing and broker services group Openmarkets (OMG) on signing a business combination agreement with NASDAQ-listed blank check company Broad Capital Acquisition Corp at an estimated valuation of $US90m. 

We have enjoyed working with the entire OMG team including CEO Dan Jowett and Legal Counsel Nick Hornstein on this unique Australia-US listing. 

The deal showcases Biztech’s unique capabilities in US-AU cross border transactional work, and our growing US M&A and capital markets capabilities. Despite macro headwinds, we see strong interest in Australian assets from US buyers, and AU companies looking to access US capital and consumer markets.  

Uniquely, Biztech Lawyers is a single firm offering clients representation across the US, AU and the UK, representing 30% of the global economy, with more markets to come on stream this year.

Read the full article on the AFR

If you want to learn more about the deal, read the full article on the AFR. Talk to us about how we can support you.