Dolphin Capital 112 Projekt GmbH & Co. KG, Dolphin Capital 192 Projekt GmbH & Co. KG, Dolphin Capital 126 Projekt GmbH & Co. KG and Dolphin Capital 214 Projekt GmbH & Co KG entered into a letter of intent agreement to acquire Vordere PLC (LSE:VOR) in a reverse merger transaction on March 28, 2017. The acquisition is subject, inter alia, to the completion of due diligence, documentation and compliance with all regulatory requirements, including the Listing and Prospectus Rules. The negotiations may or may not lead to a completion of the acquisition. Given the size of the acquisition, if it proceeds, it will constitute a reverse takeover under the Listing Rules and, accordingly, at the Acorn's request the listing of its ordinary shares has now been suspended. Acorn is also proposing to make an offer to the public of ordinary shares of up to £9 million with the possibility of an additional £9 million pursuant to an over allotment facility. Keith Lassman of Howard Kennedy LLP acted as legal advisor of Acorn Growth. Lucy Williams and Duncan Vasey of Peterhouse Corporate Finance Limited acted as financial advisor of Acorn Growth. On March 28, 2017, the company announced that The transaction will be satisfied by the issue of new ordinary shares in the Company at a price of 17p per share. 54.75195 million shares of nominal value £0.02 in the capital of the Company and have been allotted at a price of £0.17 per share.