Your Partner for Growth, Hybridan

Hybridan

Your Partner for Growth

Our passion is raising growth capital for exciting, fast growth companies that want to take their business to the next level. We raise capital for companies both listed and unlisted in the most efficient manner possible and pride ourselves as being one of the few consistently profitable broking firms in the City. This has been achieved through a highly disciplined approach when seeking to create both corporate and institutional relationships.

Equity Bottom-Up

<ul>
<li>12th May: Cobalt Holdings, a Company created primarily to purchase and hold physical cobalt, offering public equity investors pure-play direct exposure to the price of cobalt, announced its intention to raise approximately US$230m through its Global Offer and the possible Admission on to the Main Market in June 2025.</li>
<li>Glencore International AG and certain entities and affiliates managed by Anchorage Structured Commodities Advisor, have agreed to participate as cornerstone investors, agreeing to invest, in aggregate, an amount representing approximately 20.5% of the Shares to be offered pursuant to the Global Offer.</li>
<li>9th May: iFOREX Financial Trading, the fintech business with a proprietary online and mobile trading platform for multi-asset contracts for difference, announces that it is considering an IPO onto the Main Market.</li>
</ul>


12th May: Cobalt Holdings, a Company created primarily to purchase and hold physical cobalt, offering public equity investors pure-play direct exposure to the price of cobalt, announced its intention to raise approximately US$230m through its Global Offer and the possible Admission on to the Main Market in June 2025.
Glencore International AG and certain entities and affiliates managed by Anchorage Structured Commodities Advisor, have agreed to participate as cornerstone investors, agreeing to invest, in aggregate, an amount representing approximately 20.5% of the Shares to be offered pursuant to the Global Offer.
9th May: iFOREX Financial Trading, the fintech business with a proprietary online and mobile trading platform for multi-asset contracts for difference, announces that it is considering an IPO onto the Main Market.


Vertu Motors Plc - Hybridan Small Cap Feast: 14/05/2025

Equity Capital Markets and Advisory Business, Auctus Advisors

Auctus Advisors

Equity Capital Markets and Advisory Business

Auctus Advisors is a specialist Equity Capital Markets and Advisory business with a focus in the Energy Sector. The partners have complementary skill sets, with decades of experience across Equity Capital Markets, Investment Banking and the Energy industry. We have worked at Société Générale, Canaccord Capital, BMO Capital Markets and Schlumberger. Most recently we have worked together for many years at GMP FirstEnergy. Auctus has been set up at the beginning of a new decade in which we see significant opportunities in the Energy space. Globally, demand for energy is at record levels and continues to grow. Conversely, investment in traditional energy sources has been severely constrained. We believe this imbalance creates opportunities for both companies and investors. Auctus provides Corporate Broking, Equity Research and Investment Banking services.

<ul>
<li>Southern achieved production of 2,259 boe/d in 4Q24, close to with our forecasts of 2,192 boe/d.</li>
<li>The YE24 working capital deficit of US$24.9 mm also met our expectations.</li>
<li>YE24 1P and 2P reserves were estimated at 12.7 mmboe and 27.9 mmboe, respectively.</li>
</ul>


Southern achieved production of 2,259 boe/d in 4Q24, close to with our forecasts of 2,192 boe/d.
The YE24 working capital deficit of US$24.9 mm also met our expectations.
YE24 1P and 2P reserves were estimated at 12.7 mmboe and 27.9 mmboe, respectively.


Southern Energy Corp. (SOUC LN/SOU CN): Reserves Resilient to Low US Gas Prices

<ul>
<li>Southern has raised US$5 mm in new equity at a price of 3.8p per share (C$0.07 per share).</li>
<li>Investors participating in the transaction will also receive a full warrant for each new share, with an exercise price of 4.8p per share (C$0.09 per share).</li>
<li>US$3.1 mm of outstanding convertible debenture will be converted into equity on the same terms.</li>
</ul>


Southern has raised US$5 mm in new equity at a price of 3.8p per share (C$0.07 per share).
Investors participating in the transaction will also receive a full warrant for each new share, with an exercise price of 4.8p per share (C$0.09 per share).
US$3.1 mm of outstanding convertible debenture will be converted into equity on the same terms.


Southern Energy Corp. (SOUC LN/SOU CN): First recompletion expected by the end of 2Q25

<ul>
<li>Southern is expecting to raise US$6 mm in new equity at a price of 4.3p/sh (C$0.08/sh).</li>
<li>Investors participating in the transaction will also receive half a warrant for each new share, with an exercise price of 5.3p/sh (C$0.10 /sh).</li>
<li>The existing ~US$3.2 mm convertible debenture will be equitized, at 102.5% of the principal outstanding amount plus accrued interest will be converted into equity at a price of 4.3p/sh (C$0.08/sh).</li>
</ul>


Southern is expecting to raise US$6 mm in new equity at a price of 4.3p/sh (C$0.08/sh).
Investors participating in the transaction will also receive half a warrant for each new share, with an exercise price of 5.3p/sh (C$0.10 /sh).
The existing ~US$3.2 mm convertible debenture will be equitized, at 102.5% of the principal outstanding amount plus accrued interest will be converted into equity at a price of 4.3p/sh (C$0.08/sh).


Southern Energy Corp. (SOUC LN/SOU CN): Back to growth

<ul>
<li>3Q24 production of 2,336 boe/d was in line with our expectations.</li>
<li>Southern has monetized excess inventory for US$2 mm during 3Q24, resulting in net debt being reduced by US$1.4 mm.</li>
<li>Southern estimates that further excess inventory could be sold for US$1-1.5 mm.</li>
</ul>


3Q24 production of 2,336 boe/d was in line with our expectations.
Southern has monetized excess inventory for US$2 mm during 3Q24, resulting in net debt being reduced by US$1.4 mm.
Southern estimates that further excess inventory could be sold for US$1-1.5 mm.


Southern Energy Corp. (SOUC LN/SOU CN): Better Balance Sheet than Expected.

Canada

Southern Energy is an oil and natural gas exploration and production company focused on acquiring and developing conventional natural gas and light oil resources. The company's primary assets are located in the Southeast Gulf States of Mississippi, Louisiana, and East Texas. Southern Energy was founded in 2008 and is headquartered in Calgary, Alberta, Canada.

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Southern Energy (SOUC LN)

Vertu Motors Plc - Hybridan Small Cap Feast: 14/05/2025

Cobalt Holdings, a Company created primarily to purchase and hold physical cobalt, offering public equity investors pure-play direct exposure to...

Hybridan

Southern Energy Corp. (SOUC LN/SOU CN): Reserves Resilient to Low US Gas Prices

Southern achieved production of 2,259 boe/d in 4Q24, close to with our forecasts of 2,192 boe/d. The YE24 working capital deficit of US$24.9 mm...

Auctus Advisors

Southern Energy Corp. (SOUC LN/SOU CN): First recompletion expected by the end of 2Q25

Investors participating in the transaction will also receive a full warrant for each new share, with an exercise price of 4.8p per share (C$0.09...

Auctus Advisors

Southern Energy Corp. (SOUC LN/SOU CN): Back to growth

Investors participating in the transaction will also receive half a warrant for each new share, with an exercise price of 5.3p/sh (C$0.10 /sh).

Auctus Advisors

Southern Energy Corp. (SOUC LN/SOU CN): Better Balance Sheet than Expected.

3Q24 production of 2,336 boe/d was in line with our expectations. Southern has monetized excess inventory for US$2 mm during 3Q24, resulting in net...

Auctus Advisors

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