At a glance
Memery Crystal is delighted to announce that it has advised Ten Lifestyle Group plc, the global concierge platform driving customer loyalty for global financial institutions and other premium brands trading on AIM, on a £5.9 million fundraising through a placing and retail offer.
The net proceeds of the fundraising will be used by Ten to fund operational and working capital investment, including opening a new office in the USA, to support the launch of a new extra-large multi-year contract with an existing global client. The net proceeds will also be used to strengthen Ten's balance sheet and enable Ten to pursue its pipeline while driving future growth and reducing cost of capital.
The Memery Crystal team was led by Corporate Partners Nick Davis and Robert Bines-Black, who were assisted by Corporate Senior Associate David McClellan and Trainee Solicitor Alex Willis.
Nick Davis commented: "We are very pleased to have been able to support the excellent team at Ten on a successful fundraising round. Our relationship with Alex Cheatle and his team goes back to Ten's successful IPO back in 2017, and we are excited to see what's next for their compelling concierge offering. As a firm, this is latest of many successfully completed secondary fundraisings on which we have advised in 2024, an area in which we are a market leader."
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
