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Fieldfisher advised CUI Global, Inc (NASDAQ) ("CUI Global" or the "Company"), a platform company dedicated to the acquisition, development, and commercialization of new, innovative technologies, on its £7.5 million fundraising from European investors. CUI Global has priced an underwritten public offering of 8,400,000 shares of its common stock at a price to public of $5.00 per share. Additionally, the Company has granted the underwriters the option to purchase up to an additional 1,260,000 shares of its common stock to cover over-allotments, if any, at the price to public. The total gross proceeds of the European and US portions of the offering are approximately $42 million.
In addition, Fieldfisher advised CUI Global on the acquisition of Orbital Gas Systems Limited for £17 million.
Formed in 1984, Orbital Gas Systems Limited is an independent specialist gas control & instrumentation solutions provider. Orbital has, for over 25 years, developed its portfolio of products, solutions, services and resource to offer a diverse range of bespoke gas engineering solutions to the gas utilities, power generation, emissions, manufacturing and automotive industries.
Fieldfisher's team was led by partner Michael Harte and also comprised corporate partner Tim Bird, assisted by senior associate Tom Martin. Employment partner Margaret Davis, tax partner Andrew Prowse and commercial solicitor Aneesh Patel also advised.
William Clough, CUI Global’s president & CEO stated,
“Michael Harte and his team at Fieldfisher have been involved with the company for some time. They were instrumental in managing certain parts of our first equity raise in 2011, which resulted in our uplisting to the Nasdaq Capital Market. That raise and listing placed us in the position to acquire Orbital-UK and successfully complete this secondary offering.”
“As legal counsel for this transaction, Michael, Tom Martin, Tim Bird, and the rest of the Fieldfisher team were invaluable in putting this deal together.” Clough concluded.
For further information, please contact:
Ibrahim Kamara, PR Manager, Field Fisher Waterhouse LLP on 020 7861 4120