Fieldfisher advises in-game advertiser Bidstack on AIM float
International law firm Fieldfisher acted for advertising technology company Bidstack on its £6.8 million reverse takeover by Kin Group plc and its readmission to London's AIM market, as it seeks to harness the untapped potential of video game advertising.
A team led by corporate partner Brad Isaac advised Bidstack Ltd throughout the acquisition by Kin Group (now Bidstack Group plc), formerly a wellness tech company, and on the accompanying placing by Bidstack Group to raise £3.5 million.
The company resumed trading on 19 September. Proceeds from the placing will be used for working capital and to help finance the growth of the enlarged group.
Formed in 2015, Bidstack helps video game companies and advertisers to benefit from revolutionary in-game advertising across multiple platforms.
Its client list includes Sports Interactive, which develops the Football Manager gaming series, as well as brands such as Domino's Pizza and Vodafone PLC.
Bidstack's successful acquisition by Kin Group and its subsequent AIM float is the latest of a series of capital markets deals concluded by Fieldfisher in the technology sector.
The firm recently advised on the London Stock Exchange listing of Argo Blockchain PLC, the first ever Main Market listing of a cryptocurrency business in the UK, and acted for AIM-listed Access Intelligence plc on a £2.8 million raise to fund the development of its data-driven communications management technology.
Fieldfisher is the sixth largest legal adviser to companies listed on London's AIM market and currently advises 34 AIM companies in sectors including tech, healthcare, mining and energy.
Brad Isaac was supported by tax and structuring partners, Mark Gearing, and Andrew Prowse; corporate consultant and sports specialist, Patrick Cannon; corporate senior associate Owain Davies; trainee solicitor Suzanne Loding and paralegal, Jamal Moursy.