WANdisco has raised $42m (gross) at 446p, 7% above the undisturbed closing price. The proceeds will be used to accelerate the execution of its existing business plan and will bolster its balance sheet ahead of a potential US listing. It has also struck a partnership deal with Snowflake to help accelerate the migration of on-premise Hadoop data. FY21 sales guidance of ‘at least $35m’ (Edison estimate $37m) is reiterated. We make minor estimate changes to reflect the capital raising and updated cost guidance, but our FY21 sales forecast is unchanged.
