Strata advised Quintel

Transaction Summary

Strata advised Quintel, a developer of high-efficiency, high-performance multiband antenna solutions for mobile operators, on a $10 million financing round including investment from a strategic partner.

Transaction Overview

• Strata Partners acted as the exclusive financial adviser to Quintel Solutions Ltd. (“Quintel”) in its $10m Series E Financing round led by existing investor Trillium International and joined by a major manufacturer of electronics and communication components and connectors (the “Strategic Investor”). The investment will enable Quintel to scale delivery capacity to maintain its recent 400% year-over-year revenue growth rate and to expand its international presence

• Quintel is an innovative leader in wireless network antenna technology development. Quintel’s products enable wireless operators to independently deploy and optimize multiple air interfaces and/or services on a single standard antenna platform. Quintel offers the only products that can increase a wireless network’s capacity and the number of services available without increasing the number or size of the antennas deployed. Quintel is headquartered in Rochester, NY with additional offices in California and the UK

Transaction Highlights

• Strata assisted Quintel with not only achieving the financial goals set for the investment round, but also in managing the non-financial terms of an investment by the Strategic Investor, who is a supplier and manufacturing partner ‎of Quintel. In particular, Strata helped structure and negotiate investment terms (in the form of a detailed term sheet) that do not restrict the majority shareholders’ ability to exit the business to a third party if required

• Additionally, Strata was able to help the Strategic Investor get comfortable with a highly complex capital structure that included several classes of shares ‎with different liquidation preferences and participation rights. This also included developing a “management strip” of equity to ensure that management would participate in the success of the business fairly at different valuations in way acceptable to both existing and new investors

• The fundraising was achieved in four months from the date Strata was hired, despite multiple jurisdictions and time zones: Quintel management was based on the US East and West Coasts, Trillium on the US East Coast and the Strategic Investor’s team, on the US West Coast with input from their parent company in Europe. Additionally, Quintel’s holding company is in Cayman, necessitating the use of both Cayman and US counsel