Penningtons Manches Cooper has advised Cavendish Capital Markets on a £17.5 million equity fundraising for SRT Marine Systems

The corporate team at Penningtons Manches Cooper has advised Cavendish Capital Markets as nominated adviser and broker to SRT Marine Systems PLC on a £17.5 million fundraising with existing and new investors, comprising a non-pre-emptive subscription, placing and retail offer.

SRT Marine Systems is a global developer and supplier of sovereign civil defence maritime intelligence and surveillance systems, and navigation safety and efficiency solutions.

The proceeds are expected to further strengthen SRT Marine Systems’ balance sheet, to accelerate product development and to support new contract conversion and delivery.

London-based corporate partner, Seb Orton, led on this deal with assistance from associate Jenny Wright.