Grant Thornton advises Path Investments plc Path Investments plc has completed their reverse takeover of DG Innovate Ltd

April 2022
Path Investments plc
DG Innovate Ltd
Adviser to Path Investments plc on their reverse takeover of DG Innovate Ltd
£44.2 million
Grant Thornton team
Public company transactions
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We are delighted to have advised Path Investments plc on their reverse takeover of DG Innovate Ltd.

Path Investment plc (“Path”) is a cash shell listed on the Main Market of the London Stock Exchange with a strategy to acquire opportunities in the energy sector; DG Innovate Ltd (“DGI") is an advanced R&D company pioneering sustainable and environmentally considerate improvements to electric mobility and storage.

Path has acquired DGI for shares in a reverse takeover with a fundraising to support the Enlarged Group to take forward key contracts and continue R&D. The transaction has given DGI shareholders a liquidity event with the re-admission to the Main Market and achieved Path’s investment strategy.

The transaction enhances the equity value of Path’s shareholders and provides access to ongoing funding for DGI through the listing.

The listing assists to raise the profile of DGI and new board members, including Pat Symonds from Formula 1, and will help the Enlarged Group in the commercialisation of DGI’s core technologies.

It is exciting to witness Path transform into an innovative technology company in the novel electric motor and energy storage space which aims to become a Tier 2 supplier and/or technology licensor in the near future. We are pleased to have supported Path in completing this transaction and in its strategy to bring innovative electric vehicle technology to the public markets.

Our team has been leading the execution of the deal as Path's retained financial adviser as the capital markets have entered a more challenging environment. The commitment of management and advisers to the transaction has resulted in a successful deal and fundraise, which is testament to the underlying DGI technologies.

We are glad to be able to support companies like Path and DGI which are seeking to contribute to an innovative carbon neutral society. 


Grant Thornton has been acting as our retained financial adviser for almost two years. We are pleased with Grant Thornton's proactive and hands on approach and particularly their commitment and support to overcome the challenges that arise from time to time. We look forward to continue working together post-admission as our business grows.

Christopher Theis CEO, Path Investments plc

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