A three-continent team of lawyers from K&L Gates LLP recently advised United States clean water and antimicrobial technology company HaloSource, Inc., on the company’s $80 million institutional placing – including a $30 million vendor placing – and admission to the London Stock Exchange’s AIM market. Trading in HaloSource’s shares commenced in October, giving HaloSource an initial market capitalization of approximately $158 million.
Headquartered in Seattle, Washington, HaloSource is a clean water technology company with operations currently in the United States, India and China. It is focused on the provision of cleaner, clearer, and safer water using its proprietary N-halamine bead technology to clean and purify water, killing bacteria and viruses that may cause disease.
“We are pleased to have completed our IPO and believe that HaloSource presents a compelling investment opportunity,” commented John Kaestle, CEO of HaloSource. “Admission to AIM provides us with the international visibility and funding opportunities to expand our business, increase our customer base, and deliver attractive returns to our shareholders.”
Corporate partners Scott Greenburg (Seattle) and Jeremy Landau (London) led the international K&L Gates team that advised HaloSource, which also included London lawyers Mollie Stoker and Alex Riches, Seattle lawyer Mariah Kennedy, and Shanghai lawyer Max Gu.
“We were particularly delighted to have acted for HaloSource, a long-time client of the firm, on this transaction and look forward to working with the company as it continues its expansion worldwide,” said Greenburg.
Landau stated: “HaloSource’s success proves both that the London equity markets’ recovery is continuing at a significant pace and that the combination of K&L Gates’ London capabilities and our firm’s global platform ideally suits us to advise London and international growth businesses seeking to list on London’s capital markets.
Liberum Capital acted as nominated adviser and broker to HaloSource.
