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The Directors of NEXTDC Limited (ASX:NXT) ("the Company" or "NEXTDC") are pleased to advise that the Company has successfully completed its Share Purchase Plan (SPP) offer raising approximately $15.3 million.1
Through the Placement and the SPP, the Company has raised approximately $47.2 million net of capital raising costs2, comprising:
An Institutional Placement of $16.8 million
A Conditional Placement of $16.8 million3
SPP raising of approximately $15.3 million
As disclosed in its Investor Presentation dated 14 March 2011, the Company continues to explore a number of additional growth opportunities driven by anticipated customer demand. These additional opportunities are aimed at establishing NEXTDC as a national data centre provider, with a footprint in major growth markets enabling the cloud computing revolution.
In light of the increasing commercial opportunities emerging for NEXTDC, the Board has determined to accept all SPP applications in full. The incremental SPP proceeds above the announced target of $5 million will position NEXTDC to pursue these additional growth opportunities, in particular opportunities outside of Sydney, Melbourne and Brisbane, aimed at establishing the Company as a market leader in operating neutral data centres in Australia.
The Directors of NEXTDC wish to thank its institutional and retail shareholders for their overwhelming participation and support.
The Company will keep the market updated on progress of those growth opportunities in coming months.
1 Final proceeds raised from the SPP are subject to cheque clearance.
2 Capital raising costs amounted to approximately $1.7 million.
3 Subject to shareholder approval at a general meeting called for 27 April 2011.
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