Acted for Kooth as Financial Adviser, Nominated Adviser, Sole Broker & Sole Bookrunner on its £66.0m IPO and £26.0m Placing

Healthcare services delivered digitally

Panmure Gordon acted as Financial Adviser, Nominated Adviser & Sole Bookrunner on the IPO of Kooth plc, a leading provider of online mental health services

• Admitted to AIM on 2 September 2020
• Highly oversubscribed institutional offering – deal size increased due to investor demand

Offer price of 200p / £66m market cap on admission

• £16m primary offering for the Company to invest in its growth strategy
• £10m secondary offering – selldown achieved for Root Capital through surplus demand
• Shares closed at 225p on first day of trading (+12.5%)

• Executed the whole transaction remotely due to Covid-19
• Over 20 institutional investors & wealth managers on the share register on day 1
• Full deal size more than covered from pilot fished institutions

• Accessible digital provision of mental health services
• Huge underlying demand for mental health services in the UK
• Subscription-based model with high levels of recurring revenue
• Clear avenues for growth into adult, corporate and international
• Highly experienced management team with proven track record