DragonWave updates number outstanding shares

DragonWave Inc. (TSX:DWI)(NASDAQ:DRWI) reported it has 7,305,012 common shares outstanding following the exercise of six-month warrants issued in its public offering completed in August 2016, the company said.

DragonWave currently intends to use the net proceeds from the exercise of warrants for general corporate purposes, which may include working capital, general and administrative expenses, capital expenditures and implementation of our strategic priorities.

The company provides packet microwave solutions that drive next-generation IP networks. Its carrier-grade point-to-point packet microwave systems transmit broadband voice, video and data, enabling service providers, government agencies, enterprises and other organizations to meet their increasing bandwidth requirements rapidly and affordably. The company´s corporate headquarters is located in Ottawa, Ontario, with sales locations in Europe, Asia, the Middle East and North America.