WANdisco raises USD 22 mln in oversubscribed share offering

Wednesday 6 December 2017 | 11:00 CET | News

UK-based WANdisco has raised USD 22 million in a share sale, more than twice the initial amount planned following strong demand from investors. The company sold 2.971 million shares at 550 pence each. 

The new shares are equal to 7.8 percent of the company's total outstanding shares. The price was a small discount of 2.7 percent on WANdisco's closing price on 01 December, before it announced plans for the share sale. 

The new money will be used to drive further organic growth, develop strategic partnerships and strengthen the balance sheet. 

WANDisco's patented Active Data Replication technology enables continuous, consistent connectivity to data as it changes wherever it is located. It provides customers with access to their data anytime and anywhere, with no downtime and no disruption. The company has OEM relationships with IBM and Dell/EMC’s Virtustream and also partners with cloud providers such as Amazon Web Services, Cisco, Google Cloud, HP Enterprise, Microsoft Azure and Oracle to resell its products.

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