Chrystal Capital acted as financial adviser to a private, US-based communications software company, on a $15 million pre-IPO placement of shares. The shares were placed with a single private investor. Under the terms of the confidentiality agreement, the name of the company remains undisclosed.
The proceeds will be used both to establish the company’s new joint venture with the investor, which will create a platform to deploy its technology in new markets, and to provide capital for growth in existing markets.
“We are very pleased with the result of this pre-IPO fund raising, which has secured us not only investment capital, but a strategic alliance with a key long-term partner.”
This is the second technology deal that Chrystal has advised on the last 12 months, the first being the $25 million London IPO, in August 2011, of post office software provider Escher Group.