The broader fundraising comprises a strategic investment, reinvestment of proceeds from a redemption of existing convertible loan notes, a placing and a retail offer.
The proceeds of the fundraising will be used to repay existing bank debt, redeem existing loan notes and strengthen IQE’s balance sheet. This will position the company to invest in its core semiconductor technologies, including Indium Phosphide (InP) and Gallium Nitride (GaN), supporting its long-term growth strategy.
The Reed Smith team was led by partner Samantha Myers and counsel Alex Davidson and supported by associate Freddie Whittle and, on US securities, counsel Ashley Jaber.
The transaction involved cross-border elements spanning England and Wales and the United States.
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