Covington Advises Horizon Discovery Group plc on £40.1 million Financing

Covington Advises Horizon Discovery Group plc on £40.1 million Financing

May 13, 2015

LONDON, May 13, 2015 — Covington has advised AIM-listed Horizon Discovery Group plc on a £40.1 million accelerated bookbuild placing announced on May 1, 2015.  The financing is being undertaken to raise £25 million in new money for the company through a primary offering and £15.1 million for certain shareholders through a sale of their existing shares. The placing is conditional on the receipt of certain shareholder approvals and is expected to close on or around May 20, 2015.

Horizon Discovery Group plc is a life science company supplying research tools to organizations engaged in genomics research and the development of personalised medicines.
 
The team comprised partners Paul Claydon, James Gubbins and Kristian Wiggert, and associate Sarah Hoult. Guy Dingley and Rob Heller provided tax advice and Morag Peberdy advised on patent issues.