The corporate team at Penningtons Manches Cooper has advised Elixirr International PLC on its pre IPO reorganisation, working closely with Elixirr’s other IPO advisers. On Thursday 9 July 2020, Elixirr announced the admission of its entire issued and to be issued ordinary share capital to trading on the AIM Market of the London Stock Exchange, having raised more than £20 million by way of an oversubscribed placing of new ordinary shares.
Founded in 2009, Elixirr is an established global management consultancy that guides its clients to overcome challenges such as: future-proofing against technological disruption; development and roll-out of new propositions, products and services; incubating new businesses; navigating a more complex and multinational regulatory environment; and project management and implementation of major change programmes. Since forming, Elixirr has worked with over 150 clients across Europe, North America, Africa, Asia and Australia, with offices in the UK and a permanent presence (and employees) in the US and South Africa.
According to Stephen Newton, chief executive of Elixirr, the move to become a public company will support its ‘reputation as the challenger consultancy and provide the capital to accelerate [its] integrated strategy, growing off the great platform [it has] created’.
The work was led by Penningtons Manches Cooper corporate partner David Kendall, supported by associates Richard Price and Danielle Broadhead. Commenting on assisting Elixirr through its listing, Kendall said: “It has been extremely rewarding to support Elixirr during this process and we look forward to seeing the next stage of its impressive journey.”
Elixirr general counsel Ian Ferguson said of Penningtons Manches Cooper: “David Kendall and his team have done a fantastic job over the last 12 months in helping us restructure our business and group in preparation for our IPO. We value David’s pragmatic and commercial advice and solutions.”