International legal practice Osborne Clarke has advised essensys plc, the leading global provider of mission-critical software-as-a-service platforms and on-demand cloud services to the high growth flexible workspace industry (also known as coworking or workspace-as-a-service), on its successful AIM IPO. Following admission, essensys will have a market capitalisation of approximately £72.6 million.
The IPO, which was arranged by N+1 Singer, raised approximately £28 million for the company and the selling shareholders. Admission to AIM of the shares will take place today (29 May 2019).
Mark Furness, CEO of essensys said:
"The completion of essensys’ IPO process represents the latest and most exciting phase yet in our planned expansion and development. The positive reception from investors has been hugely encouraging and provides a strong foundation on which to move forward and deliver on our potential as a UK-headquartered and internationally-minded public company.
"I want to thank everyone who has helped essensys plc achieve this successful flotation, in particular the valuable counsel that we received from our trusted advisers at Osborne Clarke throughout the process."
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, Associate Oliver Woods and Trainee Solicitor Griffin O’Rourke.