AOTI, Inc. Wins Best Newcomer at the AIM Awards 2024 Following IPO

LONDON—AOTI, Inc. a U.S.-based medical technology group with an approved at home therapy to deliver oxygen topically to chronic wounds, has won Best Newcomer at the AIM Awards 2024 in London this month. Covington advised Peel Hunt LLP as placing agent and nominated advisor on the listing, which took place on June 18, 2024.

AOTI became the first company in the healthcare sector to IPO in the UK this year. The IPO raised a total of £35.1 million for AOTI and certain selling shareholders, at 132 pence per share and put a market capitalization on the company of approximately £140 million at admission. By capital raised on admission at the time, AOTI’s admission to AIM was the largest AIM IPO by raise since December 2021.

The AIM Awards identify the quoted companies and entrepreneurs who have harnessed AIM to help them fulfil their ambition and growth potential in the last twelve months.

The Covington team was led by Paul Claydon and included James Halstead, Brandon Thompson, Guy Dingley, Michelle Davies and Flora Johnson.