AIM IPO and £25m placing by Elixirr International PLC

City law firm Fox Williams has advised nominated advisor and sole broker, finnCap Ltd, on the successful AIM IPO of challenger consultancy Elixirr International PLC (“Elixirr”) and its simultaneous £25 million institutional placing.

As part of the admission, which became effective on 9 July 2020, Elixirr raised approximately £25 million before expenses through an oversubscribed placing of 11,520,738 new and existing Ordinary Shares at 217 pence per Ordinary Share with institutional investors (the “Placing”). On admission to AIM, Elixirr had a market capitalisation of approximately £98.1 million.

Elixirr, founded in 2009, intends to use the proceeds of the Placing to accelerate its growth via acquisitions and expansions into new markets. A minority of the Placing proceeds will be used to repay all of the company’s outstanding debt.

The Fox Williams team was led by corporate partner Guy Morgan, who was supported by corporate associate Freddie De Boise.

Christopher Raggett, co-head of corporate finance at finnCap, commented: “Given the unprecedented disruption we have experienced as a result of coronavirus and the uncertain economic environment, listing Elixirr on AIM and raising this level of funding is a considerable achievement for all involved and bodes well for the future growth of Elixirr. Throughout the process Fox Williams were adaptive and responsive to the changing terms of the deal. We enjoyed working with Guy and the team and we look forward to working with Fox Williams again in the future”.

Guy Morgan said: “It was a pleasure to have worked together with the finnCap team to help Elixirr list on AIM, an important milestone that will give it the platform to accelerate its ambitious and exciting growth plans. We are also delighted to have advised on what is the first AIM IPO to have occurred since lockdown began. Despite the understandably challenging market conditions, this transaction demonstrates the resilience of the UK capital markets and the access to capital available to quality businesses.”


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