Square One Law’s corporate team completes AIM placing for Synety Group plc
Synety specialises in the provision of cloud based telephone call-control systems, which permits user organisations to make, receive and record telephone calls through existing software, including email, web browsers and smart phones.
Synety has raised £2.1 million through the placing of 1,400,000 new ordinary shares with certain institutional investors. The funds will allow Synety to expand their UK sales force and customer services team, expand and strengthen the technology platform with disaster recovery features and provide general working capital for Synety to capitalise on its first mover advantage and grab a market niche where there is limited competition and significant potential.
Synety’s Executive Chairman, Simon Cleaver, said: “We are really pleased with the outcome of the placing as it helps secure the future for Synety. The timing of this fundraising is also important as we urgently see growth opportunities around almost every corner and we intend to use our first-mover position to full advantage”.
Square One Law’s team, led by corporate partner Jeremy Swift, and supported by Jemil Visram, acted for Synety following their work on a successful reverse takeover of Synety which completed in September of last year.
Simon Cleaver continued: “Square One Law impressed us last year when we were working with them from the other side of the table during the reverse takeover of Synety. I have worked with Jeremy on a number of transactions over the years and would highly recommend the firm as they have an excellent work ethic and are exceptionally well-equipped to advise and assist on a wide range of corporate transactions for public and private companies. Given our aspirations following the successful fund-raising, we forward to working with them closely going forward.”
Jeremy Swift said: “It was a pleasure working with the team at Synety again and we wish them all the best going forward. This transaction demonstrates the strength and experience of Square One Law’s corporate team. As a firm we have grown to 10 partners and 40 people since starting in May 2011 and are attracting and retaining high value clients, advising on matters of a significant transactional nature with the inherent complexities associated with listed companies.”