Law firm Howard Kennedy has advised Cenkos Securities on the GBP3.2 million fund raising by the AIM traded company, MedaPhor Group plc.
This secondary fund raising was effected via a share placing, with Cenkos acting as Nomad and Broker to MedaPhor Group plc.
MedaPhor Group plc is a global provider of world leading ultrasound training simulators for medical professionals. The fundraising follows a three-year agreement between MedaPhor Group plc and the American Board of Obstetrics and Gynaecology to use its ultrasound simulator within its obstetrics and gynaecology exams.
The funds raised from the placing will allow MedaPhor Group plc to develop further a US-based sales team, fund the growth of the existing business and to develop its reseller support network.
Howard Kennedy has worked alongside Cenkos Securities and MedaPhor for more than two years, having advised Cenkos as Nomad and broker on MedaPhor’s admission to AIM in 2014.
The Howard Kennedy team was led by Keith Lassman, Partner and head of Capital Markets, with support from Associate Matthew Astbury.
Lassman says: “Howard Kennedy has a long association with Cenkos Securities plc, and we are delighted to have been involved in this latest fundraising round for MedaPhor. MedaPhor continues to go from strength to strength, and we are delighted to be part of its story.”
Stuart Gall, CEO of Medaphor, says: “We are delighted by the strong level of support from the new and existing investors in the Placing. The fundraising represents an important milestone in the development of the Group as we look to drive sales of our leading Scantrainer product the world.”