ERoad seeks $50m in deeply discounted offer

ERoad chair Susan Paterson is fronting the discounted $50m capital raise. (Image: Supplied)

Thu, 07 Sep 2023

Dual-listed electronic truck fleet monitoring firm ERoad seeks $50 million in new equity through a deeply discounted 2.06-for-one offer to existing shareholders.Having apparently beaten off a takeover attempt by Canadian investor Constellation Software in July, ERoad is offering shares at 70 cents each, a 49.6% discount to yesterday’s closing price of $1.39 and a 37.7% discount to the theoretical ex-rights price (TERP) of $1.12. ERoad shares are now in a trading halt while the bookbuild takes place.'Repay debt'...

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