DWF Newcastle has advised leading investment bank Nplus1 Singer Advisory LLP in their capacity as a joint broker to Maistro plc on a secondary fundraising of up to £1m via placing of new shares together with an open offer and additional fundraising to raise up to a total of £2.2m.
Maistro plc is an online B2B marketplace designed to make corporate buying fast and cost-effective, offering enterprises on-demand sourcing to tap into innovation, refresh their supply chain and optimise their spend.
The fundraising is intended to enable Maistro to invest in increasing automation to enhance its software platform, scale up its business development capabilities as well as supporting its working capital requirements. The placing is scheduled to complete on 4 December 2018.
DWF’s Corporate team advising on the deal was led by partner Jeremy Swift alongside senior associate Jemil Visram.
Jeremy Swift said: "We are pleased to advise Nplus1 Singer Advisory in this fundraising which will support the continued expansion of Maistro plc. This deal further demonstrates the strength of the financial services sector capability that exists within our Corporate practice."
James White, assistant director in the Corporate Finance team at Nplus1 Singer Advisory, said: "DWF's equity markets expertise is first-rate. The highly personable team balances technical expertise with commercial insight, qualities which are appreciated during transactions such as this."
