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Osborne Clarke advises Invinity Energy Systems on its successful £20.5M equity fundraising


Written on 4 December 2020

International legal practice Osborne Clarke has advised AIM-quoted Invinity Energy Systems, a manufacturer of vanadium flow batteries for the large-scale energy storage requirements of businesses, industry and electricity networks, on its successful £20.5 million equity fundraising.

Invinity will use the net proceeds of the fundraising to scale up production capabilities to meet commercial demand, execute on sales pipeline and assist in driving down unit costs.

The placing has conditionally raised approximately £20.5 million, before expenses, and Invinity also intends to further raise up to approximately £2 million through an open offer.  The open offer is conditional upon shareholder approval.

Canaccord Genuity acted as Nomad and Joint Bookrunner and VSA Capital acted as Joint Bookrunner in connection with the fundraising.

The Osborne Clarke team that advised Invinity on the transaction was led by Partner Rebecca Gordon who was assisted by Senior Associate Kate Mellor and Associate Oliver Woods.

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. The fundraise for Invinity is the third successful equity fundraising on which the team has advised in the last week. The team also advised AIM-quoted Mirriad Advertising Limited on its £23 million equity fundraising and advised WG Partners LLP on the £27.7 million equity fundraising for AIM-quoted Redx Pharma plc.

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