WANdisco PLC - Sheffield-based data-management software company - Proposes fundraising by way of a subscription and a placing to raise USD45 million in aggregate at a price per share of 446 pence per share. In a separate announcement says it has entered into subscription agreements with Global Frontier Technology Opportunity Fund, LP and Global Frontier Partners, LP of which Non-Executive Director Grant Dollens is a managing member.
WANdisco plans to use the proceeds to accelerate and strengthen its commercial position by building balance sheet strength in order to capitalise on future opportunities to scale. It is also set to increase commercial hires to support the Azure and AWS channels, and to accelerate certain partnerships and engineering efforts.
Current stock price: 448p
Year-to-date change: down 3.2%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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