Our Capital Markets team has advised Panmure Liberum on its successful fundraise for the clinical infrastructure specialist, Feedback plc, raising £6.1 million through a Placing via accelerated book building (ABB), direct subscriptions and a retail offer, conditional upon a shareholder vote.

Panmure Liberum acted as Nominated Adviser, Sole Bookrunner and Sole Broker in connection with the Placing. The total gross proceeds of the Placing of approximately £5.5 million have been upsized from the initial target of £5.2 million, with a number of new investors participating in the Placing alongside existing Shareholders. Additional demand above £5.5 million was subject to scale back. 

In addition to the Placing, certain of the Directors of the Company and other existing Shareholders have conditionally subscribed for 352,500 New Ordinary Shares at the Issue Price through the Subscription raising £70,500. An accompanying retail offer raised a further £0.53 million.

Feedback plc designs products that enhance clinician access to patient data and to their colleagues. The company produces a digital infrastructure that makes patient data available to clinicians in multiple settings, in a format that enables them to meaningfully interact with it, providing flexibility to clinicians and free movement of patients between provider settings – clinicians can practice from anywhere and patients can attend any care provider for treatment, with greater connectivity across organisations.

The team advising Panmure Liberum was led by Partner Davey Brennan, with superb support from Legal Director Sue Johnston and Associate Freddie Whittle.

Davey Brennan commented: "We're delighted to have once again supported Panmure Liberum with this fundraise for an exciting and innovative business which will help it to accelerate its growth ambitions. A big thank you to Sue and Freddie who worked tirelessly on this transaction to deliver a brilliant result. Congratulations to the Panmure Liberum team on closing another successful transaction."

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.