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Newcastle law firm advises on cloud company’s £3m fundraising campaign

Newcastle-based law firm DWF has advised software and communications company CloudCall Group Plc on a £3m fundraising campaign.

The AIM-listed company raised the money through selling shares on the London Stock Exchange with an oversubscribed premium of 3.6% to the closing price.

The Leicester-based firm specialises in the development of cloud-based software and telephony products and is using the proceeds of the fundraise to develop its US operations with respect to its sales and marketing services.

In addition, the money raised will enable the company to further develop its existing products and provide working capital for the business, as well as supporting one of CloudCall’s key integration partners, Bullhorn CRM.

DWF’s corporate team in Newcastle advised CloudCall on the transaction. The team was led by DWF corporate partner Jeremy Swift alongside associate Jemil Visram, with support from solicitor Danielle Kelly and trainee solicitor Claire Willcock.

Jeremy said: “The success of the fundraise is a great result for CloudCall and is not only testament to the company’s business strategy but to DWF’s ability to advise and support our client throughout the transaction and deliver a positive outcome in post-Brexit Britain.

“Our national corporate team advises on a large number of deals and we continue to remain involved in high-value transactions.”

Simon Cleaver, chief executive officer at Cloudcall, added: “The first half of 2016 has been overwhelmingly positive for CloudCall and the proceeds of the fundraise will allow us to capitalise on and accelerate the growth we’ve already seen, in addition to carefully targeted investment and expanding our US offering.

“Jeremy and the team at DWF have supported us for a number of years and their efficient, professional and trusted advice is a given with every instruction.”