26 Jun 2017 07:00
26 June 2017
WANdisco plc
("WANdisco" or the "Company")
New Bank Facility
WANdisco (LSE: WAND), the world leader in Active Data Replication™, is pleased to announce that it has entered into a new debt facility ("the Facility") provided by Silicon Valley Bank. The Facility replaces an existing HSBC facility that is due to expire on 30 June 2017. The new facility will mature on 1st April 2021.
The Facility comprises of up to $5.0 million available as a term debt facility, with an interest-only period to 31 May 2018, followed by a 3 year maturity at a floating interest rate of prime + 1.5% per annum, capitalising on current low interest rates. In addition, there will be up to $3.0 million available through a revolving credit facility secured by qualified accounts receivable.
Erik Miller, Chief Financial Officer of WANdisco, commented:
"We are delighted to announce this new facility, with a term debt component to support our growth capital needs in a non-dilutive way, as well as a revolving line of credit that should improve operational cash flow as our revenues continue to grow.
"Silicon Valley Bank have provided finance to many successful technology companies and we are pleased to have secured them as our partner."
For further information, please contact:
WANdisco plc | via Vigo Communications |
David Richards, Chief Executive Officer and Interim Chairman |
|
Erik Miller, Chief Financial Officer |
|
Vigo Communications | +44 (0)207 830 9703 |
Jeremy Garcia / Fiona Henson / Antonia Pollock www.vigocomms.com | |
Stifel (Joint Broker and Nomad) | +44 (0)207 710 7600 |
Fred Walsh / Neil Shah / Rajpal Padam |
|
|
|
UBS (Joint Broker) Rahul Luthra / Sandip Dhillon | +44 (0)207 567 8000 |
About WANdisco
WANdisco is the world leader in Active Data Replication™. Its patented WANdisco Fusion technology enables the replication of continuously changing data to the cloud and on-premises data centers with guaranteed consistency, no downtime and no business disruption. It also allows distributed development teams to collaborate as if they are all working in one location. WANdisco has an OEM with IBM as well partnerships with Amazon Web Services, Cisco, Google Cloud, Hewlett Packard Enterprise, Microsoft Azure, and Oracle to resell its patented technology. WANdisco also works directly with Fortune 1000 companies around the world to ensure their data can give them the real insight they need.
For additional information, please visit wandisco.com.