Press releases | 24 Feb 2017

£50m placing by Purplebricks Group plc

Overview

Travers Smith LLP is advising Zeus Capital Limited, as nominated adviser and joint bookrunner, and Investec Bank plc and Peel Hunt LLP, as joint bookrunners, on the £50 million placing of new ordinary shares by Purplebricks Group PLC (“Purplebricks”).

The proceeds of the placing are to be used for additional expansion capital to enable Purplebricks to establish itself in a number of key states across the United States.

The placing is conditional on, inter alia, the passing of shareholder resolutions at a general meeting of Purplebricks.

The Travers Smith team was led by corporate finance partner Philip Cheveley and U.S. partner Dan McNamee.

Purplebricks was advised by Norton Rose Fulbright.