LONDON (ShareCast) - (Sharecast News) - Live data company Wandisco raised approximately $16.5m on Monday after both new and existing shareholders subscribed to 2.99m new ordinary shares.
Wandisco placed the shares at 425p each, which represents a premium of 23.2% to the stock's closing share price on 22 November and 6.63% of the group's entire existing share capital.

The AIM-listed firm said proceeds will be used to support its relationships with strategic cloud partners and provide growth working capital.

Wandisco also said it had continued to win contracts across a variety of end markets and partners, including a recently-announced contract with Micro-D valued at $3m over three years.

The company said it had "good visibility" into renewals and a growing pipeline of late-stage deals with strategic partners during the second half.

It reiterated its revenue guidance for 2019.

Chief executive David Richards said: "This year we have struck new partnerships with Databricks and Neudesic and deepened existing relationships, striking a landmark agreement to embed Fusion into Microsoft Azure.

"These strategic partnerships and the successful launch of LiveMigrator and LiveAnalytics, underpins a growing sales pipeline, all of which, gives me confidence in our prospects for this year and over the long-term."

As of 0945 GMT, Wandisco shares were up 5.61% at 364.34p.

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