Liberum acts as Joint Bookrunner on a £8.5m fundraising for Safestyle UK Plc
We are pleased to announce that Liberum acted as Joint Bookrunner on a Placing raising £8.5m for Safestyle UK Plc.
In light of the Company’s announcement on 24 March to temporarily shut its facilities (including sales offices, installation depots and factories) as a result of COVID-19, Safestyle has raised £8.5m via an institutional placing to strengthen its balance sheet.
The proceeds of the Placing will be used to provide Safestyle UK Plc with a strong cash buffer and ensures the Company’s ability to trade through and out of the crisis against even a most extreme case of no revenue for the remainder of the year. The Placing is subject to a shareholder vote at a General Meeting which will take place on 27 April.
Liberum helped deliver significant and high quality demand, from both new and existing institutional investors, with the Placing oversubscribed during a period of market uncertainty. The Placing Price of 17 pence represented a premium of approximately 1.6% to the closing price on the day of launch. The Placing represented 37.6% of the enlarged issued share capital.
Liberum has been Joint Broker to Safestyle since June 2015.
Investment Banking – Neil Patel, Jamie Richards, Laura Hamilton, Anthony Schia
Sales – Sebastian Fernandez, Julian Collett, Oliver Baxendale, Alistair Smallwood, Julian Plant, Mark Godridge
Research – Charlie Campbell
Legal – Rebecca Gordon, Alice Foster
CIR – Joel Knight