Data centre operator Global Data Centre Group (GDC) has announced that it has raised US$19mn in capital. The company said it will use the funding for merger and acquisition and investment initiatives.
The money was raised by placing 9.8mn stapled units, also known as bundled securities at a price of US$1.92 each. This is 15% lower than the company’s September closing price of US$2.03.
David Yuile, Managing Director of Global Data Centre Group, said: “Following a record FY21 financial performance, Global Data Centre Group continues its focus on identifying value-enhancing acquisitions and follow-on investments to expand our operating business. Our strategy includes continuing to rapidly scale our data centre operating business, through strategic acquisitions, with this equity raising providing further runway to pursue these opportunities and capture strong industry growth going forward.”
The portfolio for Global Data Centre Group includes facilities in Europe and the Asia Pacific (APAC) region.
Future investments and shareholders
Looking to the future, Global Data Centre Group is planning to raise a further US$5mn in funding via a security purchase plan, which will be offered to all of its current shareholders. In addition, 360 Capital last month sold its shares of Global Data Centre Group for US$42mn.
However, the company remains under the management of 360 capital as a joint venture with Yuile. A debate with data centre company NEXTDC over facilities in Asia Pacific prompted 360 Capital to launch and list Global Data Centre Group in 2019.