Bircham Dyson Bell acted for Quadrise Fuels International plc (Quadrise), on its placing which has raised £4.25 million (Placing). The results of the placing were announced today together with details of a proposed open offer to raise up to a further £1 million. The Placing is expected to complete on 18 October 2016 and the proceeds will be used to support Quadrise’s continued development and its planned transition into commercial operations in 2017.
Quadrise is an AIM-listed emerging supplier of MSAR® emulsion technology and fuel in the global shipping, refining, power generation markets.
Nick McCarthy comments:
‘We were delighted by the successful outcome of the fund raising for Quadrise, at a key point in its operation, and to be continuing our long standing relationship with the company for whom we have acted since 2005.’