Bedell Cristin and Sanne collaborate on Quadrise fundraising
01 April 2021
Jersey firms Bedell Cristin and Sanne have assisted AIM-listed Quadrise Fuels International Plc to raise £6 million in gross proceeds by way of a Jersey cash box transaction.
Quadrise is a specialist supplier of low cost, cleaner alternatives to heavy fuel oil using innovative technological solutions.
Bedell Cristin provided the Jersey legal advice for the placing and worked closely with Sanne who provided incorporation and administration services to the Jersey cash box vehicle. UK advisers to the placing were BDB Pitmans.
Mike Kirk, Chairman of Quadrise, said:
“The teams at Bedell Cristin and Sanne worked seamlessly alongside our usual advisors to ensure that the cash box structure could be used to undertake our recent oversubscribed institutional placing funding on a very tight timeline.”
Sara Johns, Corporate Partner at Bedell Cristin in Jersey, who advised on the transaction alongside Senior Associate Laura Hendrick, commented:
“We were delighted to work closely with the teams at Sanne and BDB Pitmans to facilitate this specialist Jersey structure designed to fulfil Quadrise’s fundraising objectives. The transaction is an example of how Jersey structures and expertise can be applied effectively in raising finance for global firms. We were particularly pleased to be able to support Quadrise as it works to create a greener, more sustainable future by supplying cleaner alternatives to carbon-emitting fuels.”
Shervin Binesh, Director of Sanne Corporate Services in Jersey, concluded:
“Sanne is proud to have partnered with Bedell Cristin in assisting Quadrise to raise £6m in gross proceeds by way of a recent cash box transaction. We have a great deal of experience in working with leading legal advisers, such as Bedell Cristin, to structure, incorporate and manage Jersey companies raising finance through the issuance of shares or convertible bonds.”