Druces advises Sundae Bar on AIM admission

Druces LLP has played a crucial role in the successful admission of Sundae Bar Plc to the AIM market of the London Stock Exchange, facilitating a £2 million fundraising initiative aimed at propelling the development of the company’s AI platform. The prestigious AIM Admission not only enhances Sundae Bar’s access to capital markets but also positions the company for future growth, reinforcing its strategic ambition to dominate the AI Agent marketplace, a sector devoted to software systems that autonomously execute tasks for individuals and businesses.

Sundae Bar raised £2 million by issuing 25,000,000 new ordinary shares priced at 8 pence each, ensuring a significant infusion of capital. The funds raised will be instrumental in accelerating the development of their AI platform, showcasing their commitment to innovation. Additionally, the company’s recent acquisition of Ora Technology Plc fortifies its enterprise infrastructure and supports its go-to-market strategy.

Jill Kenney, CEO of Sundae Bar Plc, expressed her excitement by stating “We are excited to announce that sundae_bar has completed the merger with Ora Technology Plc and is now successfully listed on AIM. We owe tremendous gratitude to Jack Dervyn and his colleagues at Druces LLP, whose legal expertise and strategic guidance proved invaluable throughout the entire transaction." She further acknowledged the challenges of coordinating a merger and AIM admission, praising Druces for their professionalism and regulatory management.

Jack Dervyn, Partner and Head of Capital Markets at Druces, reflected on the technological advancements by saying “We are living in exciting times in terms of developing technologies, and the team at Druces were pleased to be able to assist with bringing Sundae Bar to AIM." He noted the complex nature of the transaction, emphasising how careful management and timely advice were crucial throughout the process. Dervyn also expressed eagerness about continuing the relationship with Sundae Bar and witnessing the development of its AI agent marketplace.

This successful deal underscores Druces’ prowess in navigating AIM flotations and capital markets transactions while providing robust legal advice for high-growth technology businesses. The Capital Markets and Corporate Finance team, led by Dervyn and including professionals such as David Jahoda, Kajal Sachania, Devon Monaghan, Julide Hasan, and James Sharp, collaboratively supports clients at various stages of their growth journeys, blending sector insight with practical legal solutions.