Friday marks a significant milestone for 2022 with Blackpearl Group being the first primary NZX main board equity listing for the year. Duncan Cotterill advised on all aspects of the NZX direct listing for Wellington-based Blackpearl Group.
Blackpearl Group is a technology company that builds, acquires and markets data-driven cloud services for small and medium-sized businesses. Duncan Cotterill advised Chief Executive Nick Lissette, Chair Tim Crown and the board on the benefits and opportunities for growth by listing on the NZX market.
Led by partner Matt Yates, the listing was preceded by a $6 million capital raise where a number of high profile investors invested into the business; and the acquisition of a SaaS company earlier this year. Other key team members involved were Senior Associate Amy Douglas, Senior Solicitor Jess Kwon, and Solicitors Rebecca Hilson and Gina Green.
“This is an exciting milestone in the journey of a New Zealand business that is focused on developing insights from day to day data that can drive more effective business decision making and targeted sales and marketing activities. We were pleased to play a small part in their growth story, and it is great to see a business having the courage to tell its story to the market in the current climate” said Matt Yates.
Co-founded by Nick Lissette in 2012, Blackpearl will list under the ticker BPG on 2 December at a reference market capitalisation of $43.4 million.