Wynyard announces binding commitments for full $30M rights offer

Thu, 25 Feb 2016

By Sophie Boot Feb. 25 (BusinessDesk) - Wynyard has said it has binding commitments for the full $30 million it plans to raise in a deeply discounted rights offer. The crime-fighting and security software developer said yesterday it planned to raise about $30 million in a one-for-four renounceable rights offer at 85 cents a share, well below the minimum $2 that shareholders approved in December. The company needs extra funds to meet its working capital requirements by the end of March, having raised $42.6 million in 2015, when its net cas...

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