At Cavendish, we believe AIM is a great platform for owners of businesses as it allows them to source additional capital whilst maintaining an element of control.  It also allows the flexibility for the founders to sell down their stakes in a controlled manner.

Cavendish has been involved in managing multiple sell downs over recent years and completed two in life sciences in last month, realising £11m in aggregate, both at a discount of less than 5% to the mid price.   This is despite ongoing challenges in equity markets.  These two sell downs, in Bioventix (£2.4m) and hVIVO (£8.4m) were both oversubscribed and allowed us to introduce a number of high quality investors to the register.

Geoff Nash, Corporate Finance Director commented: 

“We have an ongoing desire to broaden the shareholder base of all our corporate clients and were pleased to be able to do so for both of these fantastic businesses – we brought Bioventix to AIM with a market cap of £28m (now £260m) and started working with hVIVO (then Open Orphan) in mid-2020 when the market capitalisation was £70m (£180m today). If we can help your business, please do get in touch.”