Allen & Overy advising Sensyne Health on GBP225 million AIM IPO
16 August 2018
LONDON – A&O is advising healthcare technology company Sensyne Health Plc (Sensyne Health) on its initial public offering (IPO) to raise primary proceeds of GBP60m and admission to trading on AIM, the market operated by the London Stock Exchange, with a market capitalisation of GBP225 million. The IPO priced on 13 August 2018 and admission will take place on 17 August 2018. The placing included an offer to limited numbers of “qualified institutional buyers” in the United States in reliance on certain exemptions from the registration requirements of the U.S. Securities Act of 1933, leveraging A&O’s market-leading London-based US securities expertise.
The placing included an offer to limited numbers of “qualified institutional buyers” in the United States in reliance on certain exemptions from the registration requirements of the U.S. Securities Act of 1933, leveraging A&O’s market-leading London-based US securities expertise.
Sensyne Health creates value from accelerating medical research and improving patient care through the analysis and commercialisation of real-world evidence from large databases of anonymised patient data in collaboration with NHS trusts. The company distinguishes itself amongst artificial intelligence companies working in healthcare through the deep involvement of medical clinicians from the University of Oxford rather than computer scientists.
A&O counsel Michael Bloch, who led the team advising, commented: “Having worked with the management team behind Sensyne Health for a number of years, including advising on their previous funding rounds, it’s a pleasure to be involved to bring about this transformative development for the company, which plays to the strengths of our market-leading ECM practice.”
Partner Simon Toms, who also advised, added: “These are exciting times in the world of innovation through technology and this deal is another great example of our work with businesses focused on leveraging AI.”
The transaction was led by London corporate counsel Michael Bloch, with partner Simon Toms, and support from associates Jake Finlayson and Lewis Weaver US securities law advice was provided by partner Adam Wells and associate Baxter Schooley. Incentives advice was provided by senior associate Louise Batty and associate Christa Hotton. Tax advice was provided by counsel Tim Harrop and associate Sorsha Reilly. Employment advice was provided by partner Sarah Henchoz and associates Michael Horrocks and David Merlin-Jones. Partner Jim Ford provided advice on certain intellectual property disclosures in the admission document.
Sensyne Health was also advised by Osborne Clarke and Covington & Burling on specific aspects in connection with the IPO.
For further information, please contact Elizabeth Randall, firstname.lastname@example.org, on +44 (0)20 3088 2989.