22 June 2007
The London Stock Exchange is delighted to welcome AOI Medical to AIM.
AOI Medical is a medical device company focussing on the development and commercialisation of innovative orthopaedic medical devices for the spine and trauma markets.
The company was admitted to AIM following a placing of 2,325,583 placing shares raising gross proceeds of £8 million, and is expected to have a market capitalisation of approximately £29 million on admission. The funds will be used to fund the continued development of the company’s three key technology platforms, BAMF Spine, BAMF Trauma and Cervical Plate; to fund business development and marketing expenditure for the company’s technologies; and to fund the development of AOI’s initial marketing and sales infrastructure in the US.
Commenting on the flotation, William Christy, Chief Executive Officer of AOI Medical, said:
"We are delighted to have successfully completed our IPO and welcome new investors to the company. The funds raised will enable us to further develop and commercialise our innovative and differentiated orthopaedic products to compete in the large and fast-growing spine and trauma markets."
Numis Securities Limited acted as nominated adviser, broker and joint bookrunner to the company and Cowen International Limited acted as joint bookrunner to the company.