FireAngel Safety Technology Group plc’s £9.8 Million Equity Raising

In UK Walker Morris, advised on the matter.

Walker Morris advised N+1 Singer Capital Markets Limited, Shore Capital with a team including Richard Naish (Picture – Equity Capital Markets).

Shore Capital and N+1 Singer acted as joint bookrunners on a firm placing and placing and open offer by FireAngel Safety Technology Group plc (AIM: FA.) to raise up to approximately £9.8 million (before expenses).

FireAngel is a leading developer and supplier of home safety products. It is proposing to raise up to approximately £6.9 million by way of an open offer, and has conditionally raised a further £2.9 million by way of a firm placing and £6.9 million by way of a condition placing which is subject to clawback under the open offer.

The net proceeds of the fundraising will be used to fund research and development to accelerate new products and to implement efficiency improvements and cost savings, and to strengthen FireAngel’s balance sheet.

The Walker Morris team was led by corporate partner Richard Naish (Picture) and included Edward Ainscoe and Marianne McKeown.

 

Involved fees earner: Edward Ainscoe – Walker Morris; Marianne McKeown – Walker Morris; Richard Naish – Walker Morris;

Law Firms: Walker Morris;

Clients: N+1 Singer Capital Markets Limited; Shore Capital;

Author: Giulia Di Palma