Secondary issues

Panmure Gordan and Singer Capital Markets

Advised the sponsor and joint brokers, Panmure Gordon and Singer Capital Markets, on McColl's Retail Group plc’s (McColl’s) £35 million fundraise, by way of a proposed firm placing and open offer at a price of 20 pence per new ordinary share.

finnCap

Advised finnCap, in its role as nominated advisor and broker, on Access Intelligence PLC’s £19.4 million acquisition of Isentia Group, and associated £50 million fundraise.

Winterflood

Advised Winterflood who has been appointed as placing agent on a US$700 million secondary issue for The Schiehallion Fund Limited.

Hotel Chocolat

Advised Hotel Chocolat Group plc on its £40 million fundraising by way of a secondary placing of new ordinary shares at 355 pence per share, as well as an additional retail offer made via the PrimaryBid platform.

Liberum Capital – Time Out Group

Advised Liberum as sole bookrunner in relation to a placing and open offer conducted by Time Out Group plc to raise a total of £49 million.

Acacia Pharma Group Plc

Advised Acacia Pharma Group plc on:

its successful €27 million fundraise, through the placing of 10 million new ordinary shares with institutional investors in Europe and the US;
its successful €25 million fundraising through the placing of 12.5 million new ordinary shares at €2 per share with institutional investors in Europe and the US; and
its transformational, strategic in-licensing transaction with Cosmo Pharmaceuticals N.V. (SIX: COPN) (“Cosmo”).

Singer Capital Markets – Raven Property Group

Advised Singer Capital Markets (formerly known as Nplus1 Singer) on its role as financial adviser and placing agent to Raven Property Group Limited, a company focussed on investment in Russian logistics properties, in connection with the conditional placing of 46,824,074 existing ordinary shares and 31,071,616 existing preference shares with investors, representing all of the existing ordinary shares and preference shares held by Invesco Asset Management Limited on behalf of its clients.

Augmentum Fintech plc

Advised Augmentum Fintech plc on a fundraising by way of the issue of shares in an institutional placing and a retail offer made available using PrimaryBid.

GLI Finance Ltd

Advised the company on a placing of shares, open offer of shares, issue of new bonds and rollover of zero dividend preference shares to raise up to £4 million. Obtained a whitewash from the Takeover Panel in relation to the fundraising.

LXi REIT plc

Acted for LXi REIT plc, the specialist inflation-protected very long income REIT, in connection with a placing, open offer, offer for subscription and intermediaries offer and the establishment of an ongoing share issuance programme of up to 400 million new ordinary shares.

Panmure Gordon and Singer Capital Markets – Urban Logistics REIT

Acted for Singer Capital Markets (formerly known as Nplus1 Singer), as nominated adviser and joint placing agent, and Panmure Gordon, as joint placing agent, in relation to the £92 million secondary fundraising for Urban Logistics REIT plc, an AIM-traded real estate investment company, investing in UK-based logistics properties.

BlackRock Throgmorton Trust plc

Acted for BlackRock Throgmorton Trust in connection with its placing of ordinary shares, which raised £18.4 million.

CC Japan Income & Growth Trust plc

Acted for CC Japan Income & Growth Trust plc on its bonus issue of subscription shares to existing shareholders, which involved amendments to the fund’s existing articles, the convening of a general meeting to approve the proposals and the preparation and publication of a prospectus.

Gore Street Energy Storage Fund plc

Acted for Gore Street Energy Storage Fund plc, a UK investment trust, on its oversubscribed fundraising. The fund is London's first listed energy storage fund and has investments in a diversified portfolio of utility scale energy storage projects.

Arden Partners plc – Ince Group

Advised Arden Partners (as Sole Bookrunner and Broker) on the placing of new ordinary shares by The Ince Group plc, the legal and professional services company.

E-Therapeutics plc

Advised the company on fundraisings of £22.5 million and £12.4 million in 2020, including an offer to retail and other investors via the PrimaryBid platform on the 2021 transaction.

BTG plc

Advised BTG on its £150 million joint underwritten cash box placing in relation to its acquisition of PneumRx Inc.

LXi REIT plc

Hotel Chocolat plc

Advised Hotel Chocolat plc on a placing to raise £22 million. The net proceeds were utilised to fund growth capital investment and underpin the company's growth plan and to provide additional headroom.

SQN Asset Finance Income Fund Limited

Advised SQN Asset Finance Income Fund Limited on its £150 million placing and offer for subscription.

CC Japan Income & Growth Trust plc

We acted on the secondary fundraising for this investment trust focussed on investment in Japanese equities. We also assisted in establishing on ongoing share issuance programme for the company.

Numis Securities – Hornby plc

Advised Numis on Hornby’s transfer to AIM from the Main Market, associated £15 million placing and subsequent placing and open offer.

GCP Infrastructure Investments Limited

Advised GCP Infrastructure, a FTSE 250 investment company, in connection with its 2017/8 placing programme which raised c.£170 million to invest in UK infrastructure debt.

Cenkos – Providence Resources plc

Advised Cenkos Securities on $77 million placing and open offer for Providence Resources plc.

Liberum Capital – Volex plc

Advised Liberum on Volex’s move to AIM from the Main Market and subsequent £36 million placing.

BB Healthcare Trust plc

Acted on a secondary fundraising for BB Healthcare Trust plc, an investment trust established in 2016 to invest in healthcare stocks. The £64 million fundraising was via a placing, offer for subscription and an intermediaries offer.

LXi REIT plc

Acted on a secondary fundraising for this real estate investment trust which invests in a diversified portfolio of UK property benefitting from long-term index-linked leases. This followed our work on the company's IPO in 2017.

SQN Asset Finance Income Limited

Following the successful IPO of this equipment leasing and asset finance fund, the first listed fund to invest in this asset class, we acted on a placing, open offer and offer for subscription of C shares, raising £180 million for the fund.

easyHotel

Advised easyHotel on two accelerated book build placings raising £50 million and £38 million as well as on their de-listing from AIM.