International legal practice Osborne Clarke has advised redT energy plc, an AIM-quoted energy storage company, on its all-share acquisition of Avalon Battery Corporation and associated placing and open offer, which raised a total of £8 million (before expenses).
The acquisition constitutes a reverse takeover under the AIM Rules for Companies. Following re-admission to AIM, the combined business will be named Invinity Energy Systems plc.
With operations in North America, Europe and Asia and sales offices in Australia and Africa, the combined business will have a global footprint and be able to capitalise on the significant opportunities for energy storage presented by the worldwide shift to renewable energy and will be a leading player in the growing energy storage market.
The Osborne Clarke team that advised redT on the transaction was led by Partner Rebecca Gordon who was assisted by Associates Stuart Miller and Oliver Woods.
Osborne Clarke’s Corporate team 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.