International legal practice, Osborne Clarke, has successfully advised Mirriad Advertising plc, a pioneer in virtual advertising and product placement, on securing a £6.79 million equity raise. The fundraising exercise is composed of a £6.12 million institutional placing, a £0.49 million offer to retail investors, and a prospective £180,000 direct subscription from select directors. This financial move includes a firm placing resting on current authority for equity securities allotment minus pre-emptive rights and a conditional placing which, accompanied by the retail offering and directors’ subscription, awaits Mirriad shareholders’ approval at an impending meeting scheduled for May 23, 2023. The capital acquired will advance Mirriad’s operational, working capital, technology, and sales support capabilities. Osborne Clarke’s transaction-support team was led by Partner Louise Grzasko, with Senior Associate Stuart Miller playing a key role in the proceedings. Renowned for its proficiency, Osborne Clarke’s Corporate team offers comprehensive assistance on corporate matters ranging from equity/debt fundraising to M&A, IPOs, and joint ventures, catering to enterprises globally, from burgeoning start-ups to industry challengers.
Legal Services, Digital Advertising, Financial Services,United Kingdom
https://www.osborneclarke.com/news/osborne-clarke-advises-mirriad-advertising-plc-ps679-million-equity-raise