Our Capital Markets team has advised Dowgate Capital, Allenby Capital and SPARK Advisory Partners on a placing of new shares by Belluscura plc (AIM: BELL), a UK medical device company. The placing raised approximately £4 million before expenses. At the same time the company undertook a retail offer using the WRAP platform and successfully raised a further £0.7 million before expenses.

Belluscura plc is a UK medical device company focused on developing oxygen enrichment technology spanning broad industries and therapies. The net proceeds of the fundraising will be used by the company to purchase product inventory, for general working capital purposes and to bolster the Company's balance sheet.

The team advising Dowgate Capital and Allenby Capital (joint bookrunners) and SPARK Advisory Partners (nominated adviser to Belluscura) was led by Partner Hugh Maule and supported by Associate Freddie Whittle.

Hugh Maule said: "It's been a pleasure to work with Dowgate, Allenby Capital and SPARK in their support of Belluscura and its ambitions and growth potential as the company continues to innovate important healthcare solutions. At a difficult time for fundraising, it's been fantastic to advise the Company's joint bookrunners and nominated adviser to help achieve a successful outcome for their client."

Gowling WLG's Capital Markets team is well-established with an extensive track record over many years advising issuers on a variety of markets, as well as their sponsors, financial advisers, nominated advisers and brokers, in relation to IPOs, secondary fundraises, takeovers and related public company transactions.