LONDON (25 January 2008) The London office of international law firm Faegre & Benson LLP advised Zimmerman Adams International, nomad and broker, and Alexander David Securities Limited, placing agent, in their role as advisers to Armor Designs Inc (ADI) on its admission to AIM.
ADI, which raised US$16 million on admission pursuant to a placing at a price of US$10 per share, joined AIM with a market capitalisation of over US$250 million.
Headquartered in Phoenix, Arizona, ADI specialises in research, testing, development and commercialisation of composite armour products, including personal body armour, rotorcraft armour and vehicle armour.
The Faegre & Benson team was led by Melanie Wadsworth in London, assisted by Nick Jennings in London and Morgan Burns and Matt Kuhn in Minneapolis. Michael Evans in London and Gary Weinstein and Ed Crouter in Minneapolis also advised on the intellectual property aspects of the transaction.
Melanie Wadsworth said:
"We are delighted to have played a part in the listing of Armor Designs Inc. and look forward to working with the team as the company moves forward. Listing on AIM remains a great option for early-stage businesses which can demonstrate real promise based on a proven business model. We wish Armor Designs Inc. every success.”