WANdisco Plc New Bank Facility (0710J)

TIDMWAND

RNS Number : 0710J

WANdisco Plc

26 June 2017

26 June 2017

WANdisco plc

("WANdisco" or the "Company")

New Bank Facility

WANdisco (LSE: WAND), the world leader in Active Data Replication(TM), is pleased to announce that it has entered into a new debt facility ("the Facility") provided by Silicon Valley Bank. The Facility replaces an existing HSBC facility that is due to expire on 30 June 2017. The new facility will mature on 1(st) April 2021.

The Facility comprises of up to $5.0 million available as a term debt facility, with an interest-only period to 31 May 2018, followed by a 3 year maturity at a floating interest rate of prime + 1.5% per annum, capitalising on current low interest rates. In addition, there will be up to $3.0 million available through a revolving credit facility secured by qualified accounts receivable.

Erik Miller, Chief Financial Officer of WANdisco, commented:

"We are delighted to announce this new facility, with a term debt component to support our growth capital needs in a non-dilutive way, as well as a revolving line of credit that should improve operational cash flow as our revenues continue to grow.

"Silicon Valley Bank have provided finance to many successful technology companies and we are pleased to have secured them as our partner."

For further information, please contact:

 
 WANdisco plc                        via Vigo Communications 
 David Richards, Chief Executive 
  Officer and Interim Chairman 
 Erik Miller, Chief Financial 
  Officer 
 
                                     [phone] 
 Vigo Communications                  9703 
 Jeremy Garcia / Fiona Henson 
  / Antonia Pollock 
  www.vigocomms.com 
 
                                     [phone] 
 Stifel (Joint Broker and Nomad)      7600 
  Fred Walsh / Neil Shah / Rajpal 
   Padam 
 
 UBS (Joint Broker)                  [phone] 
  Rahul Luthra / Sandip Dhillon       8000 
 

About WANdisco

WANdisco is the world leader in Active Data Replication(TM). Its patented WANdisco Fusion technology enables the replication of continuously changing data to the cloud and on-premises data centers with guaranteed consistency, no downtime and no business disruption. It also allows distributed development teams to collaborate as if they are all working in one location. WANdisco has an OEM with IBM as well partnerships with Amazon Web Services, Cisco, Google Cloud, Hewlett Packard Enterprise, Microsoft Azure, and Oracle to resell its patented technology. WANdisco also works directly with Fortune 1000 companies around the world to ensure their data can give them the real insight they need.

For additional information, please visit wandisco.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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June 26, 2017 02:00 ET (06:00 GMT)