Wynyard details capital raising plan
Shareholders in crime analytics software firm Wynyard may buy more shares in the company at a maximum price of $2.70.
The company this morning issued details of its share-purchase plan, which is part of a $35 million capital raising.
Wynyard intends to raise $5m from shareholders through the "Share Purchase Plan" in addition to the $30m already raised through placing shares with institutional shareholder and wealthy investors.
Wynyard will use the new capital to bring forward key initiatives in its growth plan. It plans to beef up its direct sales and professional services teams, its Crime Science Research Centre and its partnership programmes with technology companies.
The increased effort is weighted towards opportunities the company sees for its products in the United States justice sector.
Shareholders may apply for share parcels in multiples of 500, and may buy a maximum of $15,000.
The price of the shares will be the lower of $2.70, the price institutions paid and the average closing price of Wynyard shares on the NZX over the five business days before and including the closing date of the SPP, April 16, the company said.
Wynyard shares last traded at $2.97.
The company listed on the NZX in July last year, issuing shares to the public at $1.15 each.
It has offices in the United Kingdom, United States, Canada, United Arab Emirates, Australia and New Zealand.