Slaughter and May advised Honeycomb Investment Trust plc – first placing of ordinary shares to raise £105 million and placing programme25 May 2017
Slaughter and May advised Honeycomb Investment Trust plc, a specialist lending fund established and managed by Pollen Street Capital Limited, in connection with a first placing of 10 million ordinary shares to raise gross proceeds of £105 million and the implementation of a placing programme of up to 40 million ordinary shares and/or C shares.
The issued shares will be admitted to trading on the Specialist Fund Segment of the London Stock Exchange’s Main Market. Liberum Capital Limited acted as placing agent in connection with the first placing.
Honeycomb invests in and acquires interests in loans to consumers, small businesses and other counterparties in market segments underserved by mainstream banks. Through arrangements with partners such as Shawbrook, Freedom Finance, Pay4Later, 1st Stop and Green Deal Finance Company, Honeycomb has access to a broad range of investment opportunities and a diversified origination platform.
Corporate and Financing: Guy O’Keefe (partner), Paul Dickson (partner), Anant Prakash (associate), David Plant (associate), Anton Malling Mikkelsen (visiting lawyer), Jack Wharton (trainee), Mark Spiller (trainee); Tax: Dominic Robertson (partner), Homyar Pahlan (associate)
List of all recent work