SJ Berwin advised BioAmber, a sustainable chemicals company on its Initial Public Offering on the NYSE and the simultaneous listing of its common stock on the professional segment of Euronext Paris. BioAmber is the first US company to use Euronext’s Fast Path process in the context of its Initial Public Offering on its original market. The offering raised a total of US$80 million, valuing the company at US$180 million.
Speechly Bircham is delighted to announce that it has advised Avation PLC, the Singapore based aircraft leasing company quoted on the main market of the London Stock Exchange, on its underwritten open offer of new ordinary shares and their admission to trading.
Under the open offer, shareholders took up 70% of available basic entitlements and the excess application facility was 160% over-subscribed.
Herbert Smith Freehills is advising ASX Limited on its A$553 million fully underwritten pro-rata accelerated renounceable entitlement offer, announced today (the “Entitlement Offer”).
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.
Law firm CMS has advised Photon Energy N.V. (“Photon Energy”), a global solar power solutions and services company on its listing of shares on NewConnect, the non-regulated market of the Warsaw Stock Exchange.
The listing was the first transaction of its kind and included two components; (i) a public tender for the swap of shares in the listed Czech company Phoenix Energy a.s. for new shares in its Dutch holding company Photon Energy and (ii) the simultaneous listing of Photon Energy shares on NewConnect. Trading of the new Photon Energy shares commenced on 4 June 2013.
International law firm, Osborne Clarke has today advised AIM quoted oil producer Nighthawk (AIM: HAWK), on the issue of £3.8million (US$5.8 million) unsecured convertible loan notes. Since advising Nighthawk on its admission to AIM in 2007, Osborne Clarke has advised the company on six further fundraisings, with a total value of almost £85 million.
The Osborne Clarke team was headed by Patrick Graves, Partner assisted by Tom Harvey, Associate.
Trowers & Hamlins has advised existing AIM-traded client EastCoal Inc. on its placing to raise £4.93 million (CAN$7.7 milllion).
Ashurst advised Credit Suisse Securities (Europe) Limited as financial adviser and corporate broker to Computacenter plc's proposed one-off return of approximately £75 million to shareholders.
The return of value is being made by way of a B share structure in conjunction with a share capital consolidation of 9 new ordinary shares for every 10 existing ordinary shares. The B share structure will allow shareholders to receive their payment as capital or income (the payment for US shareholders will automatically be received as income).
Travers Smith corporate partner Richard Spedding and corporate associate Alan Ball have advised long-standing client Investec Investment Bank in its capacity as nominated adviser, broker and sole book-runner to Outsourcery plc in connection with its £34.6m IPO. Admission is expected to take place on AIM on 24 May 2013.
Global legal practice Squire Sanders has advised cloud computing specialist Outsourcery on its admission to AIM, due to take place on 24 May with a market value of £34.6million.
Outsourcery which is headquartered in Manchester and co-founded by new Dragons Den star Piers Linney provides a range of cloud-based IT and communications services and is the largest company to go public this year.