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European law firm Fieldfisher's leading Equity Capital Markets team has advised Canaccord Genuity Limited and Turner Pope Investments Limited, joint brokers to AIM-quoted Zephyr Energy plc, on a placing to raise approximately £10 million.
The proceeds from the placing will support Zephyr’s strategic growth plans, including the cash consideration for the acquisition of producing oil and gas assets in the Rocky Mountain basins in the United States. The funds will also be used to support capital expenditure and working capital requirements for Zephyr’s Paradox project in Utah, helping to deliver a pathway to first gas.
This transaction sits within Fieldfisher’s Energy and Natural Resources sector, where the firm continues to support clients across the energy value chain, including on secondary fundraisings and capital markets activity.
The Fieldfisher team was led by corporate partner Brad Isaac, and supported by senior associate Dana French alongside trainee solicitor, Hannah Birchall.
Brad said: “We are pleased to have supported Canaccord Genuity and Turner Pope on this important fundraising for Zephyr. The transaction will enable Zephyr to continue developing its US assets and progress its Paradox project, which is a key part of its long-term strategy.
Notwithstanding difficult equity capital market conditions, transactions such as this demonstrate that investors will continue to support companies with compelling assets and growth plans.”
Fieldfisher regularly advises investment banks and brokers on secondary fundraisings for AIM-quoted companies, with a strong track record in the energy and natural resources space. Recent deals in this space include advising Coro Energy Plc on the recapitalisation of its business, working with long-standing client Cornish Metals Inc. on its £56 million fundraising and advising AIM-listed exploration and appraisal company Sunda Energy Plc on a $9 million fundraising.