Ashurst has advised UBS AG, Australia Branch (UBS) and Veritas Securities Limited (Veritas) as Underwriters on Freedom Foods Group Limited's (Freedom Foods) A$200 million equity raising.

The equity raising comprises a pro rata accelerated non-renounceable entitlement offer (Entitlement Offer) of three new fully paid shares (New Shares) in Freedom Foods for every existing 29 FFG shares held at the record date at an offer price of A$4.80 per New Share to raise approximately A$100 million; and an institutional placement (Placement) of New Shares at an offer price of A$4.80 per New Share to raise approximately A$100 million (together, the Offer). The Offer is being fully underwritten by UBS and Veritas.

The proceeds of the Offer will predominantly be used to accelerate Freedom Foods' growth strategy, including acceleration of incremental capacity expansion programs and balance sheet flexibility for growth (including working capital requirements and potential acquisitions and alliances).

The Ashurst team was led by partner Sarah Dulhunty (Corporate) and included lawyer Sagar Sritharan (Corporate).