Trowers & Hamlins advises NetScientific plc on its £7.7 million fundraising
Trowers & Hamlins has advised AIM-quoted NetScientific plc (AIM: NSCI), the life sciences and sustainability technology investment and commercialisation group, on its oversubscribed £7.7 million fundraising.
Following its acquisition of EMV Capital in 2020, and its fundamental change in strategy and management drive, the NetScientific group has acted to realise the underlying asset value in its portfolio companies and their potential to deliver shareholder value. This includes exploiting established trans-Atlantic business and expanding international presence to maximise the growth of its subsidiaries and portfolio.
The placing of new ordinary shares was carried out by WH Ireland Limited by way of an accelerated bookbuild and was approved by shareholders at a general meeting. The net proceeds of the placing will be used to continue to drive strategic growth plans, including commercialisation and project delivery within the group’s portfolio, further judicious investment in the group’s portfolio and new opportunities, and further exploiting the trans-Atlantic relationships.
Corporate Partner, Ed Hooper, led the Trowers team, assisted by solicitor, Isabelle Kilner, and trainee solicitor, Tom Bilton.
“This oversubscribed fundraising is testament to the fantastic progress achieved by the NetScientific team in a year of turnaround and transformation. It was a pleasure to advise the business on its latest fundraising, and we look forward to supporting the continued success of the company's exciting growth strategy.”
Ilian Iliev, Chief Executive Officer of NetScientific, commented:
“We are grateful to Ed and the Trowers team for their support and pragmatic advice in delivering this transaction. We have worked with Ed for many years and his knowledge of our business, and commercial approach to structuring and executing transactions has again ensured a swift and efficient completion process.”