Hill Dickinson’s Equity Capital Markets team has recently advised Cairn Financial Advisers and Hannam & Partners on a placing carried out by Helix Exploration plc which raised gross proceeds of £16 million from investors via an accelerated bookbuild process, together with a further £1.6 million raised through a heavily oversubscribed retail offer via the RetailBook platform. Hannam & Partners acted as sole bookrunner and broker in connection with the placing.
The fundraise was carried out concurrently with the acquisition of a strategically located helium purification and liquefaction facility in Oklahoma for aggregate consideration of US$11 million. The acquisition of the Keyes Helium Complex represents a strategically significant step for Helix, delivering both immediate operational value and meaningful long-term upside. Through this acquisition, Helix establishes an integrated position that spans the helium value chain, from reserves in the ground through to liquefaction, a combination that few independents have ever held.
The Hill Dickinson team advising on the transaction was led by Partner Sam Hudson, with assistance from Legal Directors Natalia Fryda and Amy Grosvenor.
The proceeds from the fundraising will be used to fund the strategic acquisition, upgrades to the Keyes Helium Complex which it is acquiring, and to support and accelerate drilling a Helix’s existing Rudyard project.
The transaction demonstrates continued investor appetite for compelling growth opportunities in the natural resources sector, while providing Helix with the funding and infrastructure required to accelerate its development plans.Sam Hudson
Partner at Hill Dickinson
Sam Hudson, Partner at Hill Dickinson, said:
"We’re delighted to have advised Cairn Financial Advisers and Hannam & Partners on this significant fundraising and strategic acquisition for Helix Exploration.
"The transaction demonstrates continued investor appetite for compelling growth opportunities in the natural resources sector, while providing Helix with the funding and infrastructure required to accelerate its development plans.
"It was a pleasure to work alongside all parties involved in delivering a complex transaction on an accelerated timetable."