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K&L Gates Acts for Identitii Limited on Entitlement Offer

6 April 2020

Sydney – Global law firm K&L Gates is acting for ASX-listed Australian financial technology (FinTech) and regulatory technology (RegTech) company Identitii Limited (ASX: ID8) (Identitii) in relation to Identitii’s partially underwritten entitlement offer of new shares to existing eligible shareholders.

Funds raised by Identitii under the entitlement offer will be used for several purposes, including funding the continued development of Identitii’s Overlay+ product offering. On completion of the entitlement offer, Identitii expects that it will be appropriately positioned to deliver on its key strategic and operational imperatives.

Identitii seeks to assist its target customers (which include both domestic and international financial institutions and regulators) with a solution to the intrinsic problem that, while money moves freely around the global financial system, the information needed to process these financial transactions must “travel” separately, often over unsecured channels like email or fax. Identitii’s Overlay+ platform enhances a financial institution’s existing financial infrastructure and messaging systems by “overlaying” them with a digital platform that uses tokenisation to create a single source of shared “truth” for every financial transaction (ensuring that the relevant information is accurate and available when it is needed).

The K&L Gates team advising Identitii is led by corporate partner Russell Lyons and senior associate Joel Farina.

Lyons said: “In connection with the entitlement offer, K&L Gates also has assisted Identitii to negotiate a complex array of commercial agreements and ancillary arrangements (including in relation to a host of internal restructuring initiatives) essential to Identitii’s recapitalisation program, most of which were negotiated, agreed and/or implemented during the height of recent financial market volatility”.

K&L Gates is a fully integrated global law firm with lawyers located across five continents. The firm represents leading multinational corporations, growth and middle-market companies, capital markets participants and entrepreneurs in every major industry group as well as public sector entities, educational institutions, philanthropic organizations and individuals.

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