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AcceptZeus Capital advised the Company in the fundraising led by its major shareholder, GCM Partners II LP (“Gatemore”). The Loan Notes were placed with existing investors and the incoming management team in a two tranche raise, with the second tranche subject to shareholder approval. These convertible Loan Notes will be capable of conversion at 10 pence per new DX share, which represented a premium of c.28 per cent. to the average closing price of DX ordinary shares over the 20 trading days immediately prior to the date of the announcement. The net proceeds of the Fundraising will be used to address the Company’s working capital shortfall, and capital expenditure and restructuring costs.
The fundraise will allow DX to undertake a turn around of the business following the appointment of its new management who bring significant collective experience in managing and improving the performance of freight operations.
Xafinity plc
Date: 11 Jan 2018
Sector: Financial Services
Type: Fundraise
Placing Size: £70m
Mkt Cap Admission: £386m
Oncimmune Holdings plc
Date: 27 Oct 2017
Sector: Pharmaceuticals and Biotechnology
Type: Fundraise
Placing Size: £5m
Mkt Cap Admission: £65.3m
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Date: 25 Oct 2017
Sector: Mobile Telecommunications
Type: Fundraise
Placing Size: £15m
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Date: 23 Jun 2017
Sector: Mobile Telecommunications
Type: Fundraise
Placing Size: £5m
Mkt Cap Admission: £85.3m
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