International legal practice Osborne Clarke has advised AIM-quoted Invinity Energy Systems plc, a leading global manufacturer of utility-grade energy storage, on its equity fundraising of up to £25.5 million.
The proceeds from the proposed fundraising are expected to provide the Company with sufficient working capital to launch its next generation Vanadium Flow Battery and support the Company's development and commercial activities.
The fundraise, which was announced on 22 February 2023, is being structured as a placing of £19 million, subscription of £2.5 million and open offer of up to £4 million and is conditional on shareholder approval at a general meeting on 15 March 2023.
Canaccord Genuity acted as Nomad and Joint Bookrunner and VSA Capital acted as Joint Bookrunner in connection with the fundraising.
The Osborne Clarke team that advised Invinity on the transaction was led by Partner Rebecca Gordon who was assisted by Senior Associate Oliver Woods and Trainee Sheila Bamugemereire.
Osborne Clarke's Corporate team, which is Band 1 ranked for Capital Markets: AIM by Chambers and Partners, is considered a go-to practice for many companies (in the life sciences & healthcare sector and beyond), 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 strategic M&A, IPOs and JVs.
As businesses strive to meet the challenges of decarbonisation, the team’s experience and understanding of this sector also means they are well placed to advise on companies' decarbonisation journeys.
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