The Burges Salmon Equity Capital Markets team, working alongside US law firm Alston & Bird, advised US-based medical technology group, AOTI Inc (AOTI), on its successful debut on AIM. This marked the largest AIM IPO since February 2022 in terms of the market capitalisation (£140 million upon admission).

AOTI praised Burges Salmon for its “excellent advice and support and for standing side-by-side with [them] throughout this transformative transaction.” Atticus was a key tool used by Burges Salmon to verify the transaction’s admission document and related investor presentation. 

Partner, Dominic Davis, comments: “With Atticus, we were able to manage the whole verification process seamlessly with our client especially when new information needed to be assessed and verified on an ongoing basis. Atticus helped us provide a proactive and highly responsive service to our client.”

Simplifying admission documents and investor presentations 

The team at Burges Salmon highlighted the significant time savings and increased accuracy when assigning statements for verification with Atticus.

Atticus made it much easier to identify gaps in verification notes and keep tabs on progress. The team verified over 1,200 statements quickly and effectively, whilst collaborating in real-time with key documents and files in one place. This freed up more time for Burges Salmon to spend on other high-value workstreams.

Atticus was particularly useful when verifying updates to large documents because the Atticus platform automatically picks up on the changes and carries over the relevant verification notes into the new version of the audit report. This was particularly helpful when documents were constantly evolving due to input from multiple parties, as well as updates needing to be verified due to the passage of time.

Associate, Dan Wood, noted that the process of asking the client to confirm statements as accurate was significantly expedited with the audit report produced in Atticus. He states, “Previously we would have had to manage the verification status using manual trackers in Word which takes a long time to update. The automated audit reports produced by Atticus totally turned this process on its head and made it really smooth and efficient. I’d estimate that several days’ worth of lawyer time was saved in this process and the client seemed really happy with the way we managed the deal.”

About Burges Salmon

Burges Salmon is an ambitious, sustainable and inclusive firm that ensures its clients, people and wider communities flourish. Burges Salmon’s vision is to be the market-leading independent UK law firm that provides the best proposition for its people and its clients. By focusing on the markets and areas of expertise where the firm has extensive knowledge and experience, Burges Salmon is able to achieve the best outcomes for clients, who range from large organisations, entrepreneurial businesses and public sector bodies to private individuals and families. With offices in Bristol, Edinburgh, London and Dublin, the firm’s people work wherever clients need them to be, both within the UK and internationally.

Burges Salmon has a strong corporate practice in the UK advising clients across a broad range of sectors, including healthcare and healthtech. Much of the firm’s work has an international element, helping overseas clients expand into the UK and supporting UK-based businesses grow internationally.