BDB Pitmans advises on £1.2 million placing for virtual reality specialists Immotion Group
The BDB Pitmans corporate team has advised existing clients, WH Ireland Limited and Alvarium Capital Partners Limited – as joint brokers – in the placing and subscription of shares in Immotion Group Plc (‘Immotion Group’). The placing took place on 19 November 2020 and raised gross proceeds of £1.2 million.
Immotion Group specialises in offering virtual reality solutions with the aim of becoming a leader in the western market sector of ‘Out of Home’ virtual reality. WH Ireland Limited and Alvarium Capital Partners Limited provide bespoke investment management and boutique corporate advisory services focused on raising capital for its client companies respectively.
Nick McCarthy, corporate partner at BDB Pitmans who led the deal, comments:
‘We are delighted to have assisted our long-standing clients on this placing and subscription of shares in the growing virtual reality market. ‘
This placing follows a flurry of five transactions for BDB Pitmans’ corporate team in the last six weeks, including successfully advising Xpediator plc on its purchase of Nidd Transport Limited, advising on the IPOs of Fonix Mobile plc, SourceBio International Plc and Verici Dx plc, as well as advising Novacyt UK Holdings Limited on its £12 million acquisition of IT-IS International.