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          DWF advises virtual reality firm on £3.3m secondary fundraising

          DWF has advised virtual reality (VR) business Immotion Group plc on its plans for a conditional fundraising of £3.3m through a placing and subscription of new Ordinary Shares.

          Date: 08/02/2019

          Immotion Group plc is a UK based VR "Out of Home" entertainment business which provides services to a number of household names including Merlin, SeaLife and LEGOLAND. DWF has advised the business on a number of deals including the company's incorporation and advised on their IPO last July.

          This fundraising, which is subject to shareholder approval, would be used to accelerate Immotion Group's growth strategy which will see a significant expansion of its relationship with Merlin, the world’s second largest leisure operator. Plans include the continued roll out of its VR Cinematic Platforms across the Lego Discovery Centre estate, as well as LEGOLAND Germany.

          Leading on the transaction for DWF is partner Jeremy Swift alongside senior associate Jemil Visram and solicitor Matthew Grice.

          Jeremy Swift said: "We're pleased to advise Immotion Group on its fundraising plans which will provide vital investment to propel the business forward to the next stage of their expansion on a worldwide basis. This transaction demonstrates our strong technology sector capabilities and industry knowledge. We look forward to working with the company on their future growth strategy."

          Martin Higginson, CEO of Immotion Group added: "We value our long-standing relationship with DWF. The strategic legal advice Jeremy and the team provide us with has supported us at every stage of our journey so far. Following our key contract wins with key partners such as Merlin coupled with the funds from this fundraising, we believe we are well placed to take advantage of the opportunities ahead of us, and remain extremely confident that Immotion Group is set to become the leading out of home immersive VR operator in the world.”

          Related people

          Jemil Visram

          • Senior Associate