Osborne Clarke advises Mirriad Advertising plc on £7.75 million equity raise

International legal practice, Osborne Clarke, has advised AIM quoted Mirriad Advertising plc, the leading in-content advertising company, on its £7.75 million equity raise

Pursuant to the equity raise, Mirriad has successfully raised £5.75 million (before expenses) through an institutional placing and proposes to raise up to a further £2 million from an open offer to qualifying shareholders. The equity raise is conditional upon the approval by Mirriad's shareholders at a general meeting to be held on 2 June 2023.  Mirriad will use the net proceeds of the equity raise to further its technology to allow for the introduction of programmatically enabled sales and to continue the Company's broader commercial development. 

The equity raise is the second raise that the Osborne Clarke capital markets team has advised on this week following its role advising Liberum on the £7.7 million placing by CT Automotive Group plc.     

The Osborne Clarke team that advised Mirriad on the transaction was led by Partner Rebecca Gordon, who was assisted by Associate Director Kate Mellor and Senior Associate Stuart Miller.

Osborne Clarke's Corporate team, which is Band 1 ranked for Capital Markets: AIM by Chambers, 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.