(Alliance News) - WANdisco PLC said Monday it has raised USD16.5 million, around GBP12.8 million, through a subscription by existing shareholders, which will go towards deepening relationships with strategic partners and providing working capital.
The distributed data platform provider issued 3.0 million shares at a price of 425 pence per share, reflecting a premium of 23% to the closing share price of Friday at 345.00p.
Shares in WANdisco - which has dual headquarters in San Ramon, California and Sheffield, UK - were up 4.6% at 360.80 pence on Monday in London. It has a GBP165.2 million market capitalisation.
The investors that took part in the subscription includes David Partnership LP, Global Frontier Partners LP, Ross Creek Capital Management LLC and Herald Investment Management Ltd.
Other investors were Acacia Partners LP, Acacia Partners II LP, Acacia Institutional Partners LP and Acacia Conservation Fund LP.
Proceeds from the subscription will go towards supporting WANdisco's relationships with strategic cloud partners and providing growth working capital.
"This year we have struck new partnerships with Databricks and Neudesic and deepened existing relationships, striking a landmark agreement to embed Fusion into Microsoft Azure. These strategic partnerships and the successful launch of LiveMigrator and LiveAnalytics, underpins a growing sales pipeline, all of which, gives me confidence in our prospects for this year and over the long-term," said in Chair and Chief Executive Officer David Richards.
Following the subscription, WANdisco now has 48.2 million shares issued overall.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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