Wandisco Share Discussion Threads

[bookbroker] 04/7/2023 07:10

I would not call that a successful fund raise, fallen well short of $30m!

[spectoacc] 04/7/2023 06:50

Missed this yesterday. 50p suggests they haven't got the fundraising as lined up as I'd thought. Management to subscribe for c.£500k.

As others have said, will be very interesting to see who puts more of their client money into this tosh.

Was a £113k contract (revenue, not profit) enough to entice anyone? Bookbuild began immediately, so we should know this morning.

[babbler] 03/7/2023 18:06

That's just basic. He gets bonus and free shares etc too. For no performance criteria whatsoever. I'd be voting dead against that

[babbler] 03/7/2023 18:05

https://twitter.com/BabblerBestBets/status/1675913411752865824

[babbler] 03/7/2023 17:55

Same as a few others recently. FAB for example. But they got it this low due to lying to shareholders

[bones698] 03/7/2023 17:44

The major problem is that even with the 9m revenue the losses are still over 2m a month so they will need more than that in revenue just to break even which given the size of deals and speed means they will not get close to break even before the cash runs out and they need more money again . That's also if they manage to raise it in the first place

Can see this dropping substantially when it comes back and continuing to fall .
They will need 25m in new revenue minimum in 12 months to break even . Does anyone see them signing that many deals in 12 months to cover those losses given how many will be dubious to sign a deal with them given what happened here .

Fair play to the new bod for giving it a go but I think it's simply to little to late .

I wonder how many will short it knowing what is coming too

[nimbo1] 03/7/2023 17:33

It’s odd Stephen Kelly wants to be involved here. Must really think something can be made from a low base or is just super annoyed at the situation. Not sure.

I certainly won’t be participating in the raise :).

[bones698] 03/7/2023 16:48

Yup got his one right too . Wouldn't touch it with a barge pole though . They will burn through hat so fast and deliver little revenue . Let's see how much they raise

[dr biotech] 03/7/2023 16:04

Well 50p it is. Very top end of what I was expecting. If any of the trusts/funds I have put money in this, I'll be asking for them to resign.

As above 50p still values the company at about £30m. Just looks like a chance for a few to pay themselves a large salary for a couple of years longer.


Dr Biotech - 04 May 2023 - 12:03:26 - 5990 of 6083 WANdisco - Will it be magic? - WAND
No chance of a relist at 200p. 50p at most. Its clear that the company is over bloated, has been losing money rapidly over the last few years and has burned through a lot of its cash, its been defrauded and has little chance of ever turning in a profit. I'd value it at remaining cash at best - if it ever relists.

[hedgehog 100] 03/7/2023 15:38

Well done, Owenski.

Robert - you haven't read it wrong, and there has been no share price split.

WAND was suspended at 1,310p, and the placing is at a 96.18% discount to that: 50p.

Even 50p though is a pre new money valuation of £33.6M. (67,196,552 shares in issue); for a business that has just reported revenue for last year of US$9.7M., with its usual massive losses, and that seems to lack any compelling growth prospects, IP, business advantage, or assets.

[roberth176] 03/7/2023 15:06

Share price now is £13 no way is the placint at 50pHave i read this wrong Whats the deal here

[terminator101] 03/7/2023 14:59

50p huh. Whoosh. At least they will be able to claim they transformed the share price. Just not the way most people think of transformation.

[cc2014] 03/7/2023 12:54

the outcome of this will be fascinating

[owenski] 03/7/2023 12:13

50p then.

How low will it sink in the days and weeks after???

[nimbo1] 29/6/2023 14:56

Specto I agree

- if institutions are bothering with it the raise is likely to be between £1-2 as opposed to 10p...

What happens after I have no idea.

[cc2014] 29/6/2023 13:25

I find it interesting that yesterday's RNS from about mid-day about the timing of the audited accounts and the equity raise did not mention that they were going to issue unaudited accounts at the start of business this morning.

It seems an ommission.


Still 30m for a business losing 30m a year sounds like a bargain. The accounts say no-one will be diluted if they stump up the cash.

I don't hold. I wonder if I will be given the opportunity to take part in an open offer.

[spectoacc] 29/6/2023 12:02

They seem confident, so guessing there's institutions willing to pump in more of their clients' money to avoid having to write down existing clients' money.

That suggests the price it gets done at could be higher than we think.

Only need look at the performance to 31st December 2022 to see there's no remotely viable business - can they somehow create one?



- Revenue for the year of $9.7 million (2021: $7.3 million)
- Cash overheads (1) of $39.3 million (2021: $41.5 million)
- Adjusted EBITDA (2) loss of $30.3 million (2021: $29.5 million)
- Statutory loss from operations of $28.2 million (2021: $37.6 million)
- Cash at 31 December 2022 of $19.1 million (2021: $27.8 million)

[cc2014] 29/6/2023 08:51

I can't understand who would put 30m in to keep it going for another year to 18 months, when it's then likely to need more cash.

Who on here will be investing their capital?

[owenski] 29/6/2023 08:21

Whatever the placing price, it will be destructive, but after that will there be any buyers in this con outfit of a business, it shouldn't be a surprise to see it continue to fall.

Richards and Millar need locking up.

[bones698] 29/6/2023 07:56

They are saying the 30m will get them to break even but I'm not sure at all it will with losses of 25m a year that's a massive increase in revenue they need to cover those losses . Looking at past results etc I think they will need to raise more money in 6 to 9 months.
I'll watch but don't see them turning this around fast enough to avoid more funding . Will need to sign a lot of deals ,preferably deals ones this time though and that's a lot harder

[kinwah] 29/6/2023 07:49

I think the placing price will be around 30p with shareholders given an open offer so they can potentially avoid dilution of their shareholding. The only good news for those shareholders who don't follow their money is potentially the cgt loss when they eventually sell could be worth more if cgt rates go to 40% under the next government.