Gowling WLG has advised SP Angel on the deal, while Reed Smith has advised Spectral MD Holdings, Ltd.
SP Angel acted as Nomad and sole broker on Spectral MD Holdings, Ltd’s Initial Public Offering (IPO) and placing on the AIM market of the London Stock Exchange.
Spectral is a predictive analytics group that develops proprietary AI algorithms and optical technology for faster treatment decisions in wound care. The Texas based company has raised £11.3 million through an oversubscribed placing. Net proceeds will be used to provide capital for the development of diabetic foot ulcers (DFU) technology, and to build a US distribution network. Spectral is also looking to develop a UK-based EMEA headquarters and build a European presence from which to progress specific European regulatory approvals and subsequently implement its sales strategy to sell its DeepView® Wound Imaging Solution product into various targeted European jurisdiction.
Corporate partner and co-chair of global tech, Davey Brennan (Picture), led the Gowling WLG team supported by principal associate Alex Davidson.
The cross-border team from Reed Smith’s Global Corporate Group and Financial Industry Group included partners James Wilkinson, Herb Kozlov, Wendy Grasso, Elizabeth Tabas-Carson, and Kevin Kay; counsel Trish O’Donnell, associates Fiona McFarlane, Kat McGriskin, Sheran Sharafi, and Rob Stalzer; trainee solicitor Victoria Lebed, and summer associate Selina Cook.
Involved fees earner: David Brennan – Gowling WLG; Alex Davidson – Gowling WLG; Wendy Grasso – Reed Smith; Kevin Kay – Reed Smith; Herbert Kozlov – Reed Smith; Fiona McFarlane – Reed Smith; Kat McGriskin – Reed Smith; Trish O’Donnell – Reed Smith; Sheran Sharafi – Reed Smith; Robert Stalzer – Reed Smith; Elizabeth Tabas Carson – Reed Smith; James Wilkinson – Reed Smith;