International legal practice Osborne Clarke has advised Singer Capital Markets Securities Limited on the conditional £6.4 million placing for AIM-quoted Yourgene Health plc, a leading international molecular diagnostics group. In addition to the placing, Yourgene has also launched a separate retail offer to the existing to raise up to an additional £1 million.
The net proceeds of the fundraise will be used to provide additional near-term working capital, to facilitate further restructuring of the Group to achieve further cost savings and fund regulatory approvals and existing product enhancements.
The fundraise, which was announced yesterday (21 December 2022), is being undertaken in two traches with the first tranche utilising existing shareholder authorities and the second tranche being conditional on approval of shareholders at a general meeting on 9 January 2023.
Singer Capital Markets Securities Limited is acting as sole bookrunner and broker in connection with the fundraise. Cairn Financial Advisers LLP is acting as Yourgene's nominated adviser.
Ed commented: "We were delighted to work once more with the Singer Capital Markets team who should be congratulated on achieving this fundraise in a challenging market. The transaction further showcases Osborne Clarke's growing strength in advising on public transactions in the life sciences and healthcare sector".
Osborne Clarke's Corporate team is considered a go-to practice for many companies in the life sciences and healthcare sector, 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.