9 March 2021 | 09:37am
StockMarketWire.com - 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.