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DWF advises Immotion Group plc on £2.85m secondary fundraise on AIM

12 February 2020
DWF, the global legal business, has advised virtual reality (VR) business, Immotion Group plc on a secondary fundraise of £2.85m on the AIM market of the London Stock Exchange.  
Immotion Group plc is a UK based VR "Out of Home" entertainment business which provides immersive VR ‘edutainment’ experiences on a global basis to popular tourist destinations operated by household names including Merlin, SeaLife and Lego Land. 

DWF has advised the business on a number of deals including their IPO in July 2018 and subsequent secondary fundraisings in February and August of last year.

The fundraising, which was effected via an accelerated book build, will be used to accelerate the Company's growth plans and fund the build out of a 36-VR seat theatre at the MGM Mandalay Bay Resort and Casino in Las Vegas. 

Leading on the transaction for DWF was partner, Jeremy Swift, alongside senior associate, Jemil Visram, Katy Butler (solicitor) and Katy Thompson (trainee).

Commenting on the deal, Jeremy Swift said, "We're pleased to have advised Immotion Group on its fundraising plans which will provide vital investment to propel the business forward to the next stage of their expansion on a worldwide basis. This transaction demonstrates our strong technology sector capabilities and industry knowledge. We look forward to working with the company on their future growth strategy."

Martin Higginson, CEO of Immotion Group added, "This transaction again demonstrates out the value of our long-standing relationship with DWF. The strategic legal advice Jeremy and the team provide us with has supported us at every stage of our journey so far.”

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