DWF has advised K3 in relation to its £8.1m placing and open offer.

The proceeds are to be used to strengthen the Group's balance sheet and provide additional working capital to give the management team flexibility as it makes strategic decisions on the future direction of the Group.

An additional £0.7m was being invested in K3 through the exercise of warrants by Johan Claesson and related parties.

Frank Shephard and Katy Philips in DWF's Manchester Corporate team advised K3 Business Technology Group plc. finncap acted as nominated adviser and broker.

Frank Shephard said "It was a pleasure to work with K3 in its successful fundraising. We have undertaken numerous ECM transactions this year and we are delighted to work with another technology company which is one of our specialist sectors."