International legal practice Osborne Clarke has advised Elixirr International plc, the global award-winning challenger consultancy on its successful AIM listing and placing. Following admission, Elixirr will have a market capitalisation of £98 million.
The placing, which was over-subscribed, raised gross proceeds of £25 million for the company and selling shareholders. Admission and trading in the company's ordinary shares will take place today (9 July 2020). finnCap Ltd acted as nominated adviser, sole broker and sole bookrunner.
Stephen Newton, CEO of Elixirr said:
"Listing on AIM today marks an incredible chapter in Elixirr’s story. The vision I had for the firm in 2009 remains - to become a world-leading consultancy. Admission to the exchange will further support our reputation as the challenger consultancy and provide the capital to accelerate our integrated strategy growing off the great platform we have created.
"This huge achievement is a culmination of the exceptional work and partnership with our fantastic clients, our talented team and our trusted advisers.
"Everyone within the business is looking forward to beginning our life as a public company which will see all Elixirr employees become shareholders to further align the business for continued success."
The Osborne Clarke team that advised on the IPO was led by Head of Equity Capital Markets, Jonathan King, who was assisted by Senior Associate Ed Nisbet, Associates Oliver Woods and Stuart Miller and Trainee Solicitor Ed Grey. Partner Michael Carter and Senior Associate Rhiannon Jones provided incentives advice. Associate Lara Flynn provided employment advice to Elixirr.