Freeths advises AIM-listed Metir on £1.78 million fundraising

Metir is a global provider of fast-response, mobile and point-of-use water and environmental testing technology. Through its Modern Water and Microsaic Systems businesses, the company develops technology to help industries, utilities and regulators monitor water quality, safety and compliance.

The fundraising comprised a placing of new ordinary shares to raise approximately £1.4 million, alongside a subscription raising approximately £375,000.

The proceeds will support Metir’s strategy to strengthen and grow revenue from its established Microtox and QuickChek product ranges, invest in its commercial and customer support capabilities and further develop its water and environmental testing technologies.

Corporate Senior Associate Mollie Brown led on the transaction supported by Corporate Partner Jeremy Swift and Corporate Director Jemil Visram.

Jeremy Swift said: “This fundraising provides Metir with additional capital to support the next stage of its strategy, including investment in its established product portfolio and the development of new testing capabilities.”

Mollie Brown added: “It was great to work with the Metir team again and help secure the funding needed to take those plans forward. The transaction is another strong example of our experience supporting listed companies with fundraising and equity capital markets work.”