Cheltenham-based Top 200 law firm BPE Solicitors has acted for leading smart homes solutions provider, LightwaveRF plc, helping them to raise £3million of additional funding.
This latest round of fundraising for the AIM-quoted company sees the company raising £2.5million with existing and new investors as well as providing qualifying shareholders with the opportunity to apply to acquire shares to raise up to a further £0.5 million via an open offer.
LightwaveRF plc is the UK's only fully integrated home automation company and offers a range of devices for in-home control, monitoring and automation of lighting, heating and power.
The fundraising will enable the company to scale the business, expand sales and marketing, execute on obligations in Europe and provide working capital.
BPE’s Corporate team has acted for LightwaveRF plc on a number of transactions and fundraisings previously and this deal was led by Senior Associate, Louise Grzasko.
Commenting on the deal, Louise said: “Transactions like this enable pioneering companies like LightwaveRF to continue to grow and expand their business at home and overseas. It’s great to be involved in these types of deals and exciting to think about how this investment will enable LightwaveRF to develop its business further and build on the substantial progress it has already made.”
Jason Elliott, CEO of LightwaveRF plc, commented: “Having worked with BPE before on previous transactions and fundraisings, the firm gave us the confidence we needed to ensure that this round of fundraising was successful too. It’s important to us that as well as securing further investment to grow we also have trusted, experienced legal advisors guiding us through each step of the way.”