Zeus acted as Nominated Adviser and Joint Broker to Surface Transforms’ £8.3m Placing and Subscription

Zeus is delighted to have acted as Nominated Adviser and Joint Broker to Surface Transforms plc on its Placing and Subscription of £8.3m, with a further Open Offer of up to £2.0m (together, the “Fundraise”). The transaction marks Zeus’ third secondary raise for Surface Transforms.

The net proceeds from the Fundraise will be used for working capital requirements with c.£5.0 million required to fund operations and c.£3.0 million as contingency. Any excess raised via the Open Offer will be to enable the Company to accelerate its capacity resilience.

The Company remains in advance discussions on a £13.0 million capital expenditure loan that would be released as new capacity is expended in 2024 and 2025.

The Placing received strong support from both existing shareholders as well as a number of new shareholders.

Company information

Surface Transforms develops and produces carbon‐ceramic material automotive brake discs. The Company is the UK’s only manufacturer of carbon‐ceramic brake discs, and only one of two mainstream carbon ceramic brake disc companies in the world, serving customers that include major OEMs in the global automotive markets.

Zeus team

Members of the Zeus team include: Dom King (Broking), David Foreman, James Edis and Ed Beddows (Investment Banking)

Contact

If you would like further information, please get in touch with our team.

Dominic King Head of Corporate Broking+44 (0) 203 829 5607+44 (0) 7825 417 155LinkedIn Scan with your phone camera to add to contacts Download vCard
David Foreman Deputy Head of PLC Advisory +44 7825 884 5000+44 7927 672 610LinkedIn Scan with your phone camera to add to contacts Download vCard

This web page constitutes a financial promotion for the purposes of section 21 of the Financial Services and Markets Act 2000 and has been approved by Zeus Capital Limited, which is authorised and regulated by the Financial Conduct Authority.