BDB Pitmans advises on £17.4m AIM listing for agriculture technology business


22-10-2021

Top 100 UK law firm, BDB Pitmans, has advised Light Science Technologies Holdings plc  on its admission to AIM and associated funding. At admission on 15 October 2021, the market capitalisation of the company was £17.4 million. Admission was accompanied by a successful placing raising gross proceeds of £5.2 million.

Light Science Technologies is a contract electronics manufacturer and a developer of controlled environment agriculture (CEA) technology. Since 2019 they have partnered with world-leading university research teams to create the ‘perfect crop recipe’ in any environment – including vertical farming, containers, polytunnels and greenhouses.

The AIM listing will accelerate Light Science Technologies’ growth, primarily through its CEA operations, by: expanding its UK scientific laboratory grow room; enhancing marketing campaigns, product design, tooling and development; encouraging its geographic expansion into the Netherlands; and providing ongoing working capital.

Corporate partner Oliver Pilkington led the deal, with assistance from associate Daniela Munro and solicitor Angelina Mikelova.

Commenting on the admission, Oliver comments: "Food shortages are affecting communities across the world, as the supply chain crisis and impact of climate change on crop growth remain among the most significant and pressing global challenges.

"We are delighted to have advised new client Light Science Technologies on its admission to AIM, helping it to raise crucial funds to expand its facilities and operations for further innovations in controlled environment agriculture technology."

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BDB Pitmans was established in 2018 following a merger between legacy firms Bircham Dyson Bell (BDB) and Pitmans Law. The firm brings together over 300 years of legal expertise across four locations – Cambridge, London, Reading and Southampton.

BDB Pitmans