Bird & Bird advised blinkx plc on its placing of new shares with institutional investors, raising £19.5 million through the use of a Jersey "cash box" structure.
The placing of over 23 million new shares at a price of 84 pence per share was conducted by blinkx's NOMAD and broker Citigroup Global Markets UK Equity acting as sole bookrunner, following which the new shares were admitted to trading on AIM.
Blinkx, which is based in San Francisco and Cambridge, is the world's largest and most advanced video search engine. Today, blinkx has indexed at least 35 million hours of audio, video, viral and TV content, and made it fully searchable and available on demand. With this fully searchable index, and with more than 720 media partnerships, including national broadcasters, commercial media giants, and private video libraries, it has cemented its position as the premier destination for online TV.
The Bird & Bird team was led by Corporate Partners Richard Eaton and Struan Penwarden with assistance from associate Chris Charlton. Richard has previously advised blinkx on its IPO in 2007, which raised $50m, and a subsequent secondary offering.
Richard Eaton, Partner, Bird & Bird LLP, London, commented: "blinkx, with some of the coolest technology around, is considered to be the Remote Control for the Video Web, and we are pleased to have once again been able to assist them on a successful placing. The transaction represents another example of the growth and expertise of our London Corporate Finance practice and underlines our commitment to be acting for the world’s technology leaders, whether their needs are corporate, IP, commercial or otherwise."