Fladgate LLP has acted for client Defenx PLC on its £2.1 million placing and admission to AIM.
Defenx is a fast growing, profitable and cash generative smart phone security software business. Defenx will be using the net proceeds of the IPO to fund the development of its Windows Phone 10 app, continue the development of Defenx Mobile Security Suite for Android and Apple iOS and broaden Defenx’s product offering, including mobile device management for families and SMEs.
Commenting on the announcement, Mr. Stecconi, Chief Executive, said: “We are delighted with the response from investors in supporting our placing of new shares and we are very pleased to welcome our new shareholders. I believe that, given the rising use of smart devices for day to day financial and commercial transactions, 2015 will be seen as year zero in the global smart phone security software market. Defenx is well placed to capitalise on its position in the security solutions market and we look forward to a successful future as an AIM listed company and delivering value for our shareholders.”
Fladgate corporate partner Avram Kelman advised Defenx, with the assistance of corporate partner Neil Vickers, corporate associates Orit Rioumine Gold and Victoria Miller.