Slaughter and May advised Accsys Technologies PLC in connection with its placing, issuance of convertible loan notes and extension of debt facilities

Slaughter and May advised Accsys Technologies PLC (“Accsys”) on its placing and issuance of convertible loan notes to raise gross proceeds of approximately €34 million (of which approximately €24 million is new money for Accsys), along with an extension of its debt facilities with ABN AMRO Bank N.V. (“ABN AMRO”) (the “Transaction”). The Transaction was announced on 21 November 2023. The placing was conducted through an accelerated bookbuild process for institutional investors, with Numis Securities Limited (Deutsche Numis) and ABN AMRO acting as the joint bookrunners. The admission of new Accsys shares to listing and trading on Euronext Amsterdam and to trading on AIM took place on 23 November 2023.

The new shares issued pursuant to the placing and that could be issued pursuant to the convertible loan notes (and potential rolled up PIK interest) represent 8.7% and 14.5% respectively of Accsys’ issued ordinary share capital prior to the completion of the Transaction.

Slaughter and May supported the in-house legal team at Accsys, led by General Counsel, Nick Hartigan.