12th Jun 2020 11:45
(Alliance News) - WANdisco PLC said Friday it has raised USD25 million through an oversubscribed share placing and subscription, the proceeds of which will go towards strengthening its balance sheet and provide further working capital.
The LiveData company issued 2.4 million shares through the placing at a price of 650 pence per share, and 737,485 shares through the direct subscription at the same price. The price reflects a discount of 12% to WANdisco's closing price on Thursday at 740.00p.
Shares in the company were down 10% at 664.00 pence on Friday in London, giving it a market capitalisation of GBP320.2 million.
Stifel Nicolaus Europe Ltd and Beech Hill Securities Inc acted as joint bookrunners for the placing.
WANDisco now has 51.3 million shares issued overall.
By Dayo Laniyan; [email protected]
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