I am very pleased to tell you that tomorrow morning we are announcing our intention to float Voyager on the Aquis stock exchange. Work is already well underway and we hope to conclude our IPO before the summer holidays.
We have made no secret of our plans to take Voyager public when the time was right and so we are delighted that the company is ready far sooner than we expected. That is testament to the support you have given us along with the progress we have made in a relatively short time since incorporation.
What is Aquis?
I was not very familiar with Aquis as a stock market until recently but we have been impressed at how it has established itself as one of the go-to stock exchanges for fast growing, early stage companies. Aquis’ admission process has so far shown itself to be faster – and more cost effective – than AIM or the LSE’s Standard List and, significantly, floating on Aquis maintains our EIS-qualifying status. Aquis has also made good progress in recent weeks on establishing electronic connections with the main retail stockbrokers in the UK. Interactive Investor and AJ Bell have both linked to the stock exchange this month and we understand Hargreaves Lansdown is proposing to do the same.
We are also announcing tomorrow a further fundraising of £741,000. Significantly, we are pleased to welcome Greencare Capital plc as one of our new shareholders. To have the support of a professional cannabis investor at this stage in our development is a further endorsement of Voyager’s strategy. Greencare are themselves listed on Aquis and will be making their own announcement of their investment in us tomorrow.
The fundraising was carried out at a 20% premium to our crowdfunding and takes our total funds raised to over £2 million since Voyager was incorporated. To put that in context, our company now has sufficient capital to fully develop our business plan, including the acceleration of our strategy that we put in place following crowdfunding – and, of course, our proposed IPO.
We will remain cost-conscious and conservative in our approach but Voyager is already well-positioned to advance in this very exciting and fast growing industry and to take advantage of opportunities that may arise.
Advisory team and Board composition
We have assembled an experienced team of advisers to guide us through the IPO process – in particular Cairn, DAC Beachcroft and PKF – and we will also be strengthening our board with the appointment of two new independent non-executive directors. We’ll provide a further update on that in due course.
As we approach IPO, we will need to re-register the company as a PLC and adopt articles of association suitable for a listed company. This requires a shareholder resolution which we propose to conduct as a written resolution and I will be back in touch about this shortly. (For those of you who invested via Seedrs then they will handle this on your behalf).
You may also be interested in an early look at our new corporate website www.voyagerlife.uk. This will continue to be developed as we get closer to IPO.
As always, if you have any questions then please do get in touch (you can reach my assistant at firstname.lastname@example.org) and, most importantly, please continue to support us on social media to help generate further interest in Voyager. As I said in my last newsletter, please tell your friends, family and colleagues about us. Like all young businesses, word of mouth and personal recommendations are essential to build trust in our brand.
I look forward to writing to you again soon.