LONDON, UK: Public Policy Holding Company (PPHC) announced its intention to seek admission of its shares to trading on the AIM market of the London Stock Exchange and a conditional placing of 22.703 million Common Shares at 135 pence per Common Share.
The Placing has conditionally raised gross proceeds of approximately £30.7 million, with strong support from high quality UK, European and US institutional investors.
Highlights
· Based on the Placing Price, the market capitalisation of the Company at commencement of dealings will be £146.1 million.
· The Placing of 8,240,050 New Common Shares is expected to raise gross proceeds of £11.1 million for the Company.
· The Placing of 14,463,713 Existing Common Shares is expected to raise gross proceeds of £19.6 million for the Selling Shareholders.
· On Admission, the Company will have a total of 108,240,050 Common Shares in issue and with approximately 25.8% of its Common Shares in public hands.
· The proceeds of the Placing receivable by the Company will principally be used to fund accelerated growth and talent acquisition and repay the outstanding balance on its revolving line of credit.
· The Group has applied for admission to trading on AIM under the ticker “PPHC”.
· Admission and commencement of dealings on AIM are anticipated to take place at 08:00 a.m. on 16 December 2021 under the ticker “PPHC”.
· Stifel Nicolaus Europe Limited is acting as Nominated Adviser and Broker to the Company.
Stewart Hall, CEO of PPHC, said: ” Public Policy Holding Company (PPHC) is a full-service business with five successful operating companies, favourable market drivers and an ambitious growth strategy to become the preeminent public and government affairs business, in the US and globally.
“The US strategic communications industry represented $17.6 billion in 2020, yet the marketplace for lobbying and public affairs is dominated by small and mid-sized firms. We believe this market is ripe for consolidation and we have a proven track record and first mover advantage in this space.
“Admission to AIM will support the next phase of our development as we scale the business and continue to deliver strong, profitable growth. We have already established a strong platform, incorporating three of the top twenty US federally registered lobbying firms in the Group, and we look forward to extending our breadth and scale further, driven by our blue-chip client base.”
Public Policy Holding Company (PPHC) is a leading bi-partisan, full-service US government affairs business. It operates a portfolio of independent firms offering public affairs, crisis management, lobbying and advocacy services on behalf of corporate, trade association and non-profit client organisations.
Clients engage the Group to enhance and defend their reputations, advance policy goals, manage regulatory risk, or otherwise engage with US federal and state-level policy makers, stakeholders, media, and directly to the public at large.
Since its inception in 2014, the Group acquired and integrated eight businesses, now operating as five separate, independent companies, focused at the federal government level in the US and with expanding reach into key US states and metropolitan areas. The five operating entities which form the operating subsidiaries of the Group are Crossroads Strategies LLC, Forbes Tate Partners LLC, Seven Letter, O’Neill & Associates and Alpine Group Partners LLC..
Leave a Reply