Liberum acts as Nomad and Sole Bookrunner on a £15.1m fundraising for Ilika Plc
We are pleased to announce that Liberum acted as Nomad and Sole Bookrunner on a Placing and Open Offer raising £15.1m for Ilika Plc.
The net proceeds of the Placing and Open Offer are to be utilised to drive Ilika’s expansion across its portfolio of solid-state battery projects. This will include supporting the transfer of Stereax® into a third party fabrication facility (£4.0 million), with the remainder of the net proceeds being utilised to strengthen the balance sheet, provide additional working capital and provide the option for investing in further growth in Stereax ® production capability.
Liberum delivered significant and high quality demand, from both new and existing institutional investors, with the Placing oversubscribed during a period of market turmoil. The Placing Price of 40 pence represented a discount of approximately 10.1% to the closing price on the day prior to launch and a discount of approximately 1.4% to the average price over the preceding 30 business days. The New Ordinary Shares represented 27.3% of the enlarged issued share capital.
Investment Banking – Andrew Godber, Cameron Duncan, Will Hall, Nikhil Varghese, Anthony Schia
Sales – Oliver Baxendale, Alistair Smallwood, Julian Collett, Jamie Vickers
Research – Adam Collins
Legal – Rebecca Gordon, Alice Foster
CIR – Rosa Hibbert-Keene