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Osborne Clarke advises Actual Experience plc on oversubscribed £10 million fundraising


Written on 22 January 2021

International legal practice Osborne Clarke has advised AIM-quoted Actual Experience plc, the analytics-as-a-service company, on its oversubscribed £10 million fundraising which was announced on 21 January 2021.

Actual Experience intends to use the net proceeds of the fundraising to expand its sales and support teams in response to the expanding pipeline of sales prospects, expand the Actual Experience’s technology development team to facilitate the development of enhanced cloud efficiency and scalability, as well as increased automation of report generation for professional services engagements. The proceeds will also be used to fund general working capital requirements and strengthen the Company’s balance sheet.

The fundraising comprises firm and conditional elements with shares subscribed for by investors pursuant to the Company’s existing shareholder authorities being expected to be admitted to AIM in late January with admission of the balance being expected to occur, subject to shareholder approval, on 9 February.

Dave Page, CEO of Actual Experience plc, said: “We were delighted with the support that Mark and Ed gave us on this successful fundraise at an exciting time for Actual Experience. Osborne Clarke has been a long-standing adviser and valued partner of the Company since our AIM IPO in 2014. Their understanding of our business and the sectors in which we operate has been extremely valuable to us.”

Nplus1 Singer Capital Markets Limited acted as nominated adviser, sole broker and bookrunner in connection with the fundraising.

The Osborne Clarke team that advised Actual Experience on the transaction was led by Partner Mark Wesker who was assisted by Senior Associate Ed Nisbet.

Osborne Clarke’s Corporate team, which is Band 1 ranked for Capital Markets: AIM by Chambers, is considered a go-to practice for many companies, working with global businesses to fast-growth start-ups and market challengers. The team advises at every stage of company development across all corporate issues, from equity and debt fundraisings to M&A, IPOs and JVs.

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