Eversheds has advised Panmure Gordon (as Nominated Adviser, sole Broker and sole Bookrunner) in connection with a placing of new shares to raise approximately £4 million.

Revolymer plc has announced the successful completion of a placing of new shares to raise approximately £4 million, in order to fund the US$7 million acquisition of Itaconix Corporation, as announced on 20 June 2016.  In addition to Revolymer’s existing cash resources, the net proceeds of the placing will be used to fund the acquisition of Itaconix, provide additional working capital for the combined business and for growth capital.

Revolymer is a speciality chemicals business focussed on controlled release, responsive systems and delivery systems in the Personal Care and Consumer Healthcare, and Home Care and Industrial markets.

The Eversheds team was led by corporate partner Simon Masters, together with corporate senior associates Paul Keohane and Richard Simpson.

Adam James, Executive Director, Corporate Advisory & Broking, at Panmure Gordon, said:

“The Eversheds team provided first rate advice to us on this transaction and ensured that it was a smooth and efficient process.”

Simon Masters commented:

“It is a pleasure to have advised Panmure Gordon on this transaction which will help Revolymer to continue with its strategic growth plans. We look forward to working with Panmure Gordon again in the future.”