National law firm, DWF, has advised on the placing of 9,951,443 new ordinary shares in AIM-quoted company Microsaic Systems plc (MSYS). The Woking-based developer of next generation mass spectrometry instruments has placed the shares at a price of 43p each to raise £4.28m.

Following Microsaic’s admission to AIM in April 2011 and a secondary fundraising in June 2012, the further fundraising was completed on Wednesday, 29 May. The funds raised by the company will be used for working capital and to allow the business to focus on its growth strategies.

Advising Numis Securities, Microsaic’s nominated adviser and broker, was Daniel O’Gorman, partner in DWF’s corporate group. Also on the team at DWF advising Numis was Shubhu Patil, associate in the firm’s corporate team.

Max Beazley partner from Dorsey & Whitney LLP acted as the solicitors to Microsaic.

http://www.dwf.co.uk/news/legal-updates/dwf-advises-on-microsaics-428m-…