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Michelmores advises on AIM fundraising for UK medical device manufacturer Deltex

Michelmores’ capital markets team has advised long-standing client Allenby Capital in a new transaction with AIM-quoted Deltex Medical Group plc. Deltex, the UK manufacturer of the TrueVue™ oesophageal doppler monitoring (ODM) system, has raised £1.89 million by a placing, subscription and retail offer via the REX retail platform. Allenby is Deltex’s nominated adviser and was its sole placement agent in relation to the placing.

The Michelmores team was led by London-based corporate Partner, Ian Binnie, with support from corporate Solicitor, Gruff Cartwright.

Commenting on this fundraising, Ian Binnie said:

This was an important transaction for Deltex so we were pleased to have supported Allenby Capital in the placing. It is interesting to note the increasing use of retail platforms such as REX as a cost-effective method of extending participation in secondary fundraisings to existing shareholders.”

For more information about the Firm’s equity capital markets team, visit our website.