Walker Morris advises on Open Offer, Placing and Subscription by FireAngel

FireAngel is proposing to raise up to approximately £6.1 million (before expenses) by way of an open offer of up to 120,711,091 ordinary shares at an issue price of 5.05 pence per ordinary share and 60,355,545 warrants.

In addition, it has conditionally raised up to approximately £6.1 million (before expenses) from certain existing shareholders, new investors and a subscriber of up to 120,711,091 ordinary shares at an issue price of 5.05 pence per ordinary share and 60,355,545 warrants (subject to clawback under the open offer).

FireAngel is one of the market leaders in the European home safety products market. Its mission is to protect and save lives by making innovative home safety products which are simple and accessible. FireAngel’s principal products are connected smoke alarms, CO alarms, heat alarms and accessories. The Company has an extensive portfolio of patented intellectual property in Europe, the US and other selected territories.

The Walker Morris team was led by Corporate partner Richard Naish and associate Matt Gale.