Datacentre provider, NextDC has managed to raise $50 million and has launched a share purchase plan.
It has completed an underwritten share placement of $50 million at $2.60 per share. The Share Purchase Plan will also raise about $10 million and provide eligible shareholders the opportunity to increase their equity participation. Shareholders can apply for up to $15,000 of shares.
The placement was made to investor clients of Macquarie Capital and RBS Morgans.
NextDC plans to use the proceeds from the placement and share purchase plan to accelerate fitout, provide additional working capital, offer costs and strategic growth opportunities.
It entered a trading halt on August 20 and revealed for the 2013 financial year, revenue was $36.2 million, compared to $4.8 million in the previous year with $51.4 million in cash. EBITDA was $700,000.
At the end of the financial year, it managed secure a three year, $30 million corporate debt facility with ANZ Bank. In July, it sold securities held in real estate investment trust, Asia Pacific Data Centre Group (APDC) and received $28.1 million after transaction costs.
NextDC also undertook a capital recycling program through the sale and leaseback of its M1 Melbourne, S1 Sydney and P1 Perth datacentre property assets to APDC.
