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£162 million IPO for Shield Therapeutics


Travers Smith corporate finance partner Richard Spedding and corporate finance senior associate Mark Anderson have advised Liberum Capital Limited (as nominated adviser and sole bookrunner) to Shield Therapeutics plc (“Shield Therapeutics”), on its £162 million IPO. 

The IPO involved the conditional placing and subscription of £32.5 million of new ordinary shares and the issue of warrants to subscribe for ordinary shares, which, if exercised in full, would generate an additional £17.5 million of gross proceeds for Shield Therapeutics.

Shield Therapeutics is a specialty pharmaceutical company focused on the development and commercialisation of secondary care-focused pharmaceuticals. The funds raised will be used to commercialise and further develop Shield Therapeutics’ lead product, Feraccru, a pharmaceutical product for the treatment of iron deficiency anaemia.

Shield Therapeutics is seeking admission to trading on AIM, a market operated by the London Stock Exchange.  Admission to AIM is expected to take place at 8.00 a.m. on 26 February 2016.  

Shield Therapeutics was advised by Andrew Edge and Tom Nicholls at Stephenson Harwood LLP.

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