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European law firm Fieldfisher’s Equity Capital Markets team has advised global energy storage innovator Gelion plc, on its successful and oversubscribed fundraise, raising approximately £10.5 million in gross proceeds. The fundraise comprised a Placing, Subscription and WRAP Retail Offer, with the issue of new shares approved by shareholders at the Company’s general meeting on 5 November.
Against a backdrop of challenging public markets, particularly for small and mid-cap companies, this achievement reflects strong investor confidence in Gelion and its growth strategy. The proceeds will be used to accelerate Gelion’s commercialisation plans, including the development of commercial pouch cell prototypes in collaboration with its Tier One partner, TDK. They will also enable the successful completion of the Prototype project with QinetiQ, support the creation of an additional sales integration business unit and provide working capital to drive growth and reinforce the company’s balance sheet.
Despite negative headlines surrounding UK capital markets, recent weeks have seen a noticeable uptick in IPOs and secondary fundraisings, signalling renewed momentum in the public markets.
Brad Isaac, Partner at Fieldfisher, commented:
"We are delighted to have supported Gelion on this important transaction. Successfully completing an oversubscribed fundraise in today’s market conditions is a testament to the strength of Gelion’s proposition and the confidence investors have in its future. This deal also highlights the resilience and adaptability of AIM-listed companies in navigating challenging market dynamics."
John Wood, Chief Executive Officer at Gelion, added: "This fundraise marks a significant milestone for Gelion as we accelerate our commercialisation plans and strengthen our partnerships with industry leaders such as TDK and QinetiQ. We are grateful to Fieldfisher for the extraordinarily effective way they supported the company throughout the process of this capital raising."
This transaction was led by Partner Brad Isaac, supported by Senior Associate Lily Searle, Associate Jamal Moursy, and Trainee Sandra Ofili. Brad Isaac and Lily Searle advised Gelion on its IPO on AIM in 2021 and have advised them on all subsequent fundraisings.
Fieldfisher’s Equity Capital Markets team has advised on a number of notable transactions in recent months, including fundraisings for AIM-listed companies across the technology, energy and life sciences sectors, reinforcing its position as a leading adviser in the UK’s growth markets.
