Law firm advises virtual reality group on £2.35m fundraise

Law firm DWF has advised Salford-based virtual reality specialist Immotion Group on its £2.35m secondary fundraise on the AIM market of the London Stock Exchange.

Immotion is an immersive virtual reality out-of-home entertainment group with offices in Manchester, Los Angeles and Dubai.

The business provides an array of services to household names such as Merlin, SeaLife and LEGOLAND and other major attractions worldwide.

Manchester-based DWF has advised on a number of deals for the business including its IPO on AIM in July 2018 and a secondary fundraise in March earlier this year.

The fundraising, which was an accelerated book build, will be used to fund the roll-out of its partnership model in high footfall ‘edutainment’ destinations such as aquaria, zoos, science centres and museums.

DWF’s UK corporate team advised Immotion Group, led by partner Jeremy Swift alongside solicitor Siobhan Cameron.

Jeremy Swift said: “We have worked with Immotion Group for a number of years and we are pleased to advise the business on another successful fundraising, which will provide key investment to accelerate the growth of their business in a variety of international locations.”

Martin Higginson, Immotion Group chief executive, said: “Jeremy and the team at DWF have once again delivered excellent strategic legal advice to support us along our growth journey, this time via our secondary fundraise.

“The business is poised for substantial growth and we believe that the partnership model will allow us to lead this new and exciting market.”