LONDON, UK: Sondrel Holdings plc announce proposed admission to trading on AIM and proposed placing, conditional on, amongst other things, admission of 36,363,636 new ordinary shares of £0.001 pence each at a price of 55.0 pence per Ordinary Share.

The placing received strong support from institutional investors and will raise a total of £20.0 million, before expenses. Cenkos Securities plc is acting as Nominated Adviser, sole broker and sole bookrunner to the Company.

Sondrel Holdings is the fabless semiconductor business providing turnkey services in the design and delivery of ‘application specific integrated circuits’ (“ASICs”) and ‘system on chips’ (“SoCs”) for leading global technology brands.

The Company is seeking Admission in order to raise new equity to:

• increase the number of engineers it employs;
• invest further in developing its Architecting the Future IP platforms;
• accelerate sales in the USA and in other geographies; and
• strengthen the Group’s balance sheet in, inter alia, the delivery of project based designs and customer supply management contracts.

Graham Curren, Chief Executive Officer of Sondrel, commented: “We are delighted to announce our intention to float on AIM as this represents a new and exciting chapter in the Group’s history, and the first material external investment event in our history.

Sondrel Holdings is at the cutting edge of our industry, delivering designs at 5 nanometres and below, a level of engineering that only a handful of companies can match. We are well positioned to benefit from a number of industry and geopolitical megatrends and believe we can be a true UK technology success story as a public company.

The IPO will provide us with the chance to raise the Group’s profile as a leading designer and deliverer of complex ASICs/SOCs and allow the Group to reach its ambition of £100 million of annual revenue in the medium term. The funds raised in the IPO will be used to increase the number of engineers we employ, invest further in developing our Architecting the Future IP platforms, accelerate growth in the USA and other geographies and strengthen the Group’s balance sheet.

I am incredibly proud to have reached this milestone and would like to thank all of our amazing team that made this possible.”