31st July 2018
Specialist corporate lawyers at Walker Morris have advised Avacta Group plc, the developer of Affimer® biotherapeutics and reagents, on its proposed placing and subscription at a price of 25 pence per share to raise gross proceeds for the Company of £11.6 million.
The placing is being conducted by way of an accelerated bookbuild process.
Biotechnology business Avacta is a global provider of proprietary dialogistic tools, consumables and reagents for life sciences and has facilities based in Wetherby and Cambridge.
Richard Naish from the Corporate Team at Walker Morris provided legal advice to Avacta.
Richard Naish, Corporate Partner commented:
“Avacta is a long-standing client of Walker Morris and we have worked with them on a number of key developments over the years. We are delighted to have been able to work with them on this latest placing which will aim to provide additional funding to support the growth strategy and ensure continued market leading development.
This placing is the third equity capital markets transaction we have advised on this month and is further demonstration of our specialist expertise in this area.”