Shares subscription raises more than £16.4m for WANdisco

A subscription for shares in live data business WANdisco has raised about $19.8m/£16.4m.

The subscription was for 5,857,862 new ordinary shares of ten pence each in the Sheffield-headquartered company by new and existing shareholders at a price of 270 pence per share.

This represents 9.77% of the entire existing issued share capital of WANdisco. Proceeds will be used to support the business’s sales and marketing programmes and to provide growth working capital.

David Richards, chief executive officer and chairman of WANdisco, said: “We are very pleased to welcome a new investor to the share register – Coast Capital Management.

“Coast Capital Management is an investment firm which makes long term investments in companies which are leaders in growing and profitable industries.”

Commenting on WANdisco’s recent progress, Richards added: “We have made significant achievements with major contract wins in the IoT space to new and existing customers, in addition to continuing to secure large contracts for replicating on premises Hadoop data to the cloud.

“The continued improvement in the business, coupled with our unique set of solutions and high visibility of near-term pipeline,  affirms our confidence in our ability to significantly improve results in FY22.”

The following investors participated in the subscription

·    Davis Capital Partners, LLC

·    Global Frontier Partners, LP

·    Global Frontier Technology Opportunity Fund, LP

·    Grant Dollens

·    Coast Capital Management