Maritime risk analytics firm Windward is seeking to join the London Stock Exchange’s Alternative Investment Market (AIM) for small and medium size growth companies, following an institutional stock placing raising approximately £34.5 million (approx. US$46m).
Windward wants to make its entire issued and to be issued ordinary share capital available to trade, placing 22.258 million new and existing ordinary shares at a price of 155 pence per share. This would result in approximately £26.3 million of new capital for the company at a market capitalisation of £126.5 million (approx. US$170m).
On admission, expected to take place under the ticker WNWD on 6 December 2021, the company says it will have more than 81.5 million ordinary shares in issue.
“We are delighted with the support we have received, providing us with the firepower to increase investment in our innovative AI-powered platform. Having invested over US$25 million into the platform to date and secured many of the world’s leading blue-chip maritime industry participants as customers, we are confident we have built strong foundations for future growth,” said Ami Daniel, CEO and co-founder of Windward.
“The maritime trade industry is vast and complex with multiple stakeholders and data visibility is low. Our Predictive Intelligence Platform shines a light on the industry. Increasing regulations around sanctions compliance and carbon emissions provide strong tailwinds for our offering.”
“Our proposed admission to AIM marks an important milestone in our journey and I would like to thank all of our existing and new investors for supporting our vision, and importantly, all of the team at Windward who have made this possible.”