10 03 2016

Shield Therapeutics plc £162 Million Initial Public Offering

Stephenson Harwood LLP has advised Shield Therapeutics plc on its £162 million AIM IPO.


Shield Therapeutics plc operates as a pharmaceutical company. The company, led by Carl Sterritt, Paul Steckler, Jackie Mitchell, David Childs and Angela Hildreth, is based in Gateshead. The IPO involved the placing and subscription of £32.5 million of new ordinary shares, and the issue of warrants to subscribe for ordinary shares. If these warrants were exercised in full, they would generate an additional £17.5 million of gross proceeds for Shield. Shield is seeking admission to trading on AIM, a market operated by the London Stock Exchange. Admission to AIM is expected to take place tomorrow, 26 February 2016. The funds raised will be used to further develop and commercialise Shield’s lead product, Feraccru, which has received European marketing approval for the treatment of iron deficiency in anaemia. Liberium Capital Limited was the nominated adviser and sole bookrunner, and was advised by Travers Smith corporate finance partner, Richard Spedding. Andrew Edge (Picture) led the Stephenson Harwood team alongside fellow partners Alexandra Pygall (IP), Tom Nicholls (corporate) and Barbara Allen (employee incentives). They were assisted by Rob Gray (senior associate, corporate), Gabrielle Pugh (associate, corporate), Charlotte Lewis (trainee, corporate), Matt Kinghorn (trainee, corporate), Lucy Calvert (associate, IP) and Kitty Horsey (associate, employee incentives). Involved fees earner: Andrew Edge - Stephenson Harwood; Tom Nicholls - Stephenson Harwood; Rob Gray - Stephenson Harwood; Gabrielle Pugh - Stephenson Harwood; Charlotte Lewis - Stephenson Harwood; Alexandra Pygall - Stephenson Harwood; Lucy Calvert - Stephenson Harwood; Barbara Allen - Stephenson Harwood; Kitty Horsey - Stephenson Harwood; Richard Spedding - Travers Smith;

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