Trowers & Hamlins has advised Hybridan on its role as sole broker to Crossword Cybersecurity plc (AIM: CCS) on its £1m placing on AIM.
Crossword is a technology commercialisation company focused solely on cyber security and risk. It has two principle areas of activity, being: (i) the development and commercialisation of university research-based cyber security related software; and (ii) cyber security consulting. Crossword’s specialist cyber security product development and software engineering teams operate both in the UK and in Poland.
The net proceeds of the fundraising will principally be used for marketing and sales, product development, and working capital to continue to drive business growth over the next 12 months.
The Trowers & Hamlins team was led by Corporate Partner, Ed Hooper, who commented:
“We are pleased to have worked again with Hybridan and Crossword on this placing following on from the company's AIM admission last year. The Hybridan team has seamlessly coordinated the transaction whilst operating remotely. We look forward to seeing Crossword's further growth in this important sector.”
Claire Noyce, Managing Partner and Chief Executive of Hybridan, said:
“We are grateful to Ed and the Trowers & Hamlins team for their responsive and efficient work on this transaction and for their practical advice on execution of this virtual deal.”