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Travers Smith advises S4Capital plc on its £116 million equity fundraising and expansion of its revolving credit facilities

Overview

Travers Smith LLP has advised S4Capital plc on a very successful £116 million equity fundraising and new £39 million revolving credit facilities with Barclays, Credit Suisse and JP Morgan. The equity fundraising was priced at the highest price the shares have ever traded and was over twice oversubscribed.

The market capitalisation of S4Capital plc now stands at over £1.75 billion, an astonishing growth from a company started just over two years ago and which Travers Smith has advised on all of its transactions.

The proceeds from the fundraising will be used to fund existing and future mergers or deals (of which three are currently in due diligence). The fundraising will also allow S4Capital plc to execute deals in negotiation pro-actively and explore larger deals, as well as respond quickly and with agility to opportunities as they arise.

To date Travers Smith has acted on 13 announced M&A transactions by S4Capital plc, with S4Capital plc building out its practice areas in its core strategic pillars of Digital Content and Data & Programmatic, in line with its strategy as a tech-led, new age, new era, digital advertising and marketing services company.

The Travers Smith team advising on the fundraising was led by Partners, Aaron Stocks and Tom Coulter, with support from US securities Partner, Dan McNamee, US Senior Counsel, Brent Sanders, and Associates, Rob Ash and Jacob Massey. Finance Partner, Andrew Gregson, with support from Associate, Taggio Price, advised on the expansion of S4Capital plc's new revolving credit facilities.

Partner, Aaron Stocks, noted: "We are delighted to have acted on another successful transaction for S4Capital, with strong demand received both from existing investors and potential new holders, providing flexibility and firepower to accelerate its merger strategy."