Ashurst has acted for CBA Equities Limited (CBA) in relation to ClearView Wealth Limited's (CVW) A$45 million fully underwritten placement and accelerated pro-rata non-renounceable entitlement offer.

CVW undertook a placement to institutional investors to raise approximately A$20 million (Placement) and a 1 for 12 accelerated pro-rata non-renounceable entitlement offer (Entitlement Offer) priced at $0.65 per CVW share to raise approximately A$25 million. The proceeds of the Placement and Entitlement Offer will be used to fund CVW's growth in in-force premiums and to make a number of potential small investments and other activities.

The Placement and Entitlement Offer are fully underwritten by CBA. CVW's major shareholder, Crescent Capital Partners (Crescent) and its associates (holding 59% of the total issued share capital of CVW) are supportive of the capital raising.  Crescent and its associates hold shares in CVW through CCP BidCo Pty Limited as trustee for the CCP Bidco Trust and other entities.

Managing Director of CVW, Mr Simon Swanson, has also entered into a sub-underwriting agreement with CBA where he has agreed to sub-underwrite up to the entitlements in the Entitlement Offer which are not taken up by his nominated investment vehicle.

The Ashurst team was led by corporate partner Sarah Dulhunty, with lawyers Scott Lai and Kathleen Liu.