WANdisco successfully raises $30m

4th Jul 2023 11:01

(Sharecast News) - WANdisco's fundraising went off with a hitch.

The company, which specialises in the transfer of large Internet of Things data sets, successfully raised $30m via an equity fundraising.

Liberum Capital and Stifel Nicolaus placed 21.567m new shares at 50.0p each.

A further 25,961m were subscribed for at the same price via a direct subscription and management subscription.

Stifel also acted as the company's nominated adviser.

The new shares would represent 70.7% of the issued share capital prior to the cash call.

"The Company consulted with and received strong support from many of its largest shareholders prior to the Fundraise, WANdisco said.

"The Company has respected the principles of the soft pre-emption, so far as possible, through the allocation process.

"As previously announced, the Company was unable to include a retail offer due to regulatory restrictions and limited time to complete the Fundraise. The Company's management team actively participated in the structuring and allocation of the Fundraise."