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.
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British Consultant Wins Appeal To Escape $11M US Judgment
Law360, London (March 8, 2021, 6:30 PM GMT) An English appeals court has ruled that a Californian court s $11 million default judgment against a British consultant accused of embezzlement cannot be enforced in the U.K., citing an arbitration clause in his employment contract.
Judge David Richards, writing for the unanimous three-judge panel at the Court of Appeal on Friday, sided with Mark Ingrouille, granting summary judgment after concluding that an arbitration provision in his contract blocked a U.S. lawsuit brought by media company AdActive Media Inc.
Ingrouille argued that the $11 million award given to the company by the California federal court should not be recognized or enforced in.