31/01/2025
Another first! We couldn't be more delighted than to have helped with the first AIM IPO of 2025: the £5.2m listing of RC Fornax, giving the company a market capitalisation of £18.2m.
RC Fornax, which provides bespoke work package management solutions to the defence industry, aims to raise £5.2m from the sale of new shares while another £1m will be raised for existing shareholders at the same price of 32.50p. The proceeds will be used to develop artificial intelligence products.
RC Fornax was co-founded in 2020 by CEO Paul Reeves and Chief Operating Officer Daniel Clark, both Royal Air Force veterans with a combined service tenure of over 24 years. Having worked in the industry, the co-founders identified that the consulting defence market was dominated by slow-moving, larger companies which provided mass market style services. RC Fornax was established to become a challenger to the industry, offering a wider range of expertise and capabilities, with an initial focus on systems, software and hardware engineering.
We wish the company every success in its exciting journey.
Our thanks to our wonderful clients at Gowlings, the company's NOMAD Strand Hanson Ltd, and Cavendish Capital Markets Ltd as broker.
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