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DataWind Inc. Files Final Prospectus and Announces Pricing of Initial Public Offering

June 30, 2014



/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/

MISSISSAUGA, ON, June 30, 2014 /CNW/ - DataWind Inc. ("DataWind" or the "Company") is pleased to announce that it has obtained a receipt for its final prospectus (the "Prospectus") filed with the securities regulatory authorities of all provinces and territories in Canada and has entered into an underwriting agreement for the initial public offering of 6,316,000 common shares of the Company ("Common Shares") at a price of CAN$4.75 per Common Share for  gross proceeds of CAN$30,001,000 to the Company (the "Offering"). Based on the initial public offering price, the Company's non-diluted market capitalization will be approximately CAN$104 million.

The Offering is being made through a syndicate of underwriters led by Canaccord Genuity Corp. and includes National Bank Financial Inc., Cormark Securities Inc. and Haywood Securities Inc.

The underwriters have been granted an over-allotment option (the "Option") to purchase up to an additional 947,400 Common Shares from the Company at a price of CAN$4.75 per Common Share for additional gross proceeds of CAN$4,500,150 if the Option is exercised in full. The Option can be exercised for a period of 30 days from the closing date.

The Offering is expected to close on or about July 8, 2014 and is subject to customary closing conditions. DataWind has received conditional listing approval for the listing of the Common Shares on the Toronto Stock Exchange (the "TSX") under the symbol "DW" subject to DataWind fulfilling all of the listing requirements of the TSX. A copy of the Prospectus is available on SEDAR (www.sedar.com).

No securities regulatory authority has either approved or disapproved the contents of this press release. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of DataWind in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Common Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act and applicable state securities laws.

About DataWind

DataWind is a leader in low-cost Internet connectivity for emerging markets. DataWind's mission is to bring the Internet, which has the ability to create tremendous social and economic benefits, to billions of unconnected people in the developing world. The Company's Internet Delivery Platform offers a low-cost Internet connectivity solution by bundling an affordable tablet device with an inexpensive, pre-paid, Internet browsing 2G service plan.

SOURCE DataWind Inc.


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Source: Canada Newswire


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