International legal practice Osborne Clarke has advised AIM quoted essensys plc, the leading global provider of mission critical software-as-a-service platforms and on-demand cloud services to the flexible workspace industry, on its successful £7 million placing.
The company intends to use the net proceeds of the placing to increase balance sheet liquidity and flexibility amidst the uncertainty caused by the COVID-19 pandemic and provide funds to take advantage of longer-term opportunities once this situation stabilises.
The placing was announced on 9 April 2020.
N+1 Singer, acted as essensys' nominated adviser, sole broker and sole bookrunner in connection with the placing.
The Osborne Clarke team that advised essensys on the transaction was led by Partner Jonathan King who was assisted by Senior Associate Ed Nisbet and Associate Oliver Woods.
Jonathan King, Osborne Clarke’s Head of Equity Capital Markets, said:
"It's been a pleasure to guide essensys through this placing, following on from last year's IPO. The COVID-19 backdrop made this particularly challenging, as well as the timeframe and current influx of other companies seeking to raise equity capital. However, it's great to see the strong support for UK listed companies from both institutions and the regulatory bodies right now. This is the fourth fundraising we've acted on in less than three weeks and we are seeing this momentum continue."
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.
