LONDON, UK: Windward Ltd, a leader in maritime predictive intelligence, has sought admission of its entire issued and to be issued ordinary share capital to trading on AIM, following an institutional placing raising approximately £34.5 million before expenses, a news release noted.
Windward is placing 22.258 million new and existing ordinary shares at a price of 155 pence per share, comprising approximately £26.3 million of new capital for the company and £8.2 million for certain existing shareholders and option holders.
On admission, Windward Ltd will have 81,637,638 ordinary shares in issue. The market capitalisation of the company at the placing price will be approximately £126.5 million immediately following Admission.
Admission and commencement of dealings on AIM are expected to take place at 8:00 a.m. on 6 December 2021, under the ticker WNWD.
Canaccord Genuity is acting as Nominated Adviser, Sole Broker and Sole Bookrunner to the Company.
Windward is a leading predictive intelligence company fusing artificial intelligence (AI) and maritime expertise seeking to digitalize the global maritime industry.
The Company is headquartered in Israel with a presence in five additional locations around the world, being the UK, USA (west coast and east coast including Washington D.C.), Denmark and the UAE.
Windward Ltd has over 70 globally spread customers, including a number of leading participants across the maritime industry covering banks, commodity traders, insurers, government agencies, and major energy and shipping companies.
Ami Daniel, CEO and co-founder of Windward, commented: “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.
“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.”