WANdisco PLC - Sheffield, England-based data migration platform - Launches USD30 million fundraise at 50 pence per share. Explains this will comprise a placing of shares, a direct subscription for shares by certain third party investors and a direct subscription for shares by some Directors and members of management. Proceeds will provide working and growth capital to support the turnaround plan which is focused on cash break even targeted during financial year 2024 to financial year 2025. Directors and management have indicated their intention to subscribe for shares worth USD798,644. Says the offer shares will represent around 71% of the company's share capital. Says fundraise will allow WANdisco to begin to take advantage of the opportunities ahead and give sufficient capital to continue as a going concern.
Current share price: Shares are suspended at 1,310.00 pence each.
By Jeremy Cutler, Alliance News reporter
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