11 May 2021

Forsters advises Glantus Holdings plc on its successful AIM Admission

The Corporate team at Forsters LLP has advised Irish incorporated Glantus Holdings plc on its successful AIM admission and related share placing. Following admission Glantus will have a market capitalisation of £37 million.

Glantus is the provider of Accounts Payable automation and analytics solutions. It uses a technology that layers onto existing data systems and transforms and analyses data to improve finance automation and deliver analytics and data science to business users.

The placing which was over-subscribed, raised gross proceeds of £10 million for Glantus and a further £4 million for certain existing shareholders. Admission and trading in the company’s ordinary shares took place today (11 May 2021).

The Forsters’ team that advised on the transaction was led by Partner Dearbhla Quigley, who was assisted by Senior Associate George Nicolaou and Trainee Ellen Jones. Counsel Joe Beeston provided employment advice with additional corporate support provided by Associate, Tasneem-Zohura Alom. The team worked alongside Beauchamps LLP, Irish legal advisers (led by Máire Cunningham) and Wilson Sonsini Goodrich & Rosati, US legal advisers (led by Michael Labriola).

Dearbhla Quigley commented: “I am delighted to have led the Forsters’ team advising Glantus on its successful AIM Admission and wish Glantus every success on this next step. On a personal note it was great to advise the first Irish company to float on AIM post-Brexit.”

The deal also received coverage in a recent Global Legal Chronicle article entitled 'Glantus Holdings PLC’s £37 Million Listing'

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