International legal practice Osborne Clarke has advised In the Style Group plc (ITS), the fast-growing e-commerce womenswear fashion brand with an innovative influencer collaboration model, on its successful AIM listing and associated placing. Following admission, ITS will have a market capitalisation of £105 million.
The placing, which was significantly oversubscribed enabling ITS to upsize the secondary element of the fundraising and to set the price at the top of the valuation range, will raise gross proceeds of £11 million and £49 million for the Company and the selling shareholders respectively. Admission and trading in the company’s ordinary shares will take place today (15 March 2021). Liberum Capital Limited acted as nominated adviser, sole broker and sole bookrunner.
Paul Masters CFO & COO of ITS said:
"The period in the run up to an IPO is an exciting but inevitably challenging time for any management team and having experienced advisers on board through the process is invaluable. The OC team were there every step of the way to guide and provide pragmatic advice when needed which genuinely made a difference to the speed of execution and, ultimately, the end result. We very much look forward to continuing the relationship as a listed business."
The Osborne Clarke team that advised on the IPO was led by Head of Equity Capital Markets, Jonathan King, who was assisted by fellow corporate Partner Mark Wesker, Senior Associate Ed Nisbet, Associates Oliver Woods and Rebecca Ewing and Trainee Solicitor Imaan Nazir. Partner Michael Carter and Associate Natalie Paddock provided incentives advice.