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WANdisco launches $45m share subscription, placing
StockMarketWire.com
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Data company WANdisco launched a $45 million share subscription and placing to bolster its balance sheet and pursue growth opportunities.
New shares in the company were being issued at 446p each.
As part of the raising, WANdisco had entered into subscription agreements with Global Frontier Technology Opportunity Fund and Global Frontier Partners to raise $30 million.
The subscription was a related-party transaction, since non-executive director Grant Dollens was a managing member of the investors.
Chief executive and chairman David Richards said the company was pursuing a potential US listing.
'WANdisco is strategically positioned to deliver on the vast cloud migration opportunity ahead of us, expanding relationships beyond Microsoft Azure to partners such as AWS and Google as well as independent software vendors and system integrators,' he said.
'The promotion of our LiveData Platform by Microsoft Azure to their preferred product for cloud migration technology, establishes our technology as a global standard for cloud enablement.'
'To accelerate our market opportunity and take our solutions to the next stage of their evolution, we will be making strategic commercial hires to support our largest channels and engineering hires to support the product journey.'
At 9:37am: (LON:WAND) Wandisco PLC share price was 0p at 440p
Story provided by StockMarketWire.com
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