ERD - ERoad. (Transport sector technology)

[Charlie]

Deleted repeat post

[Charlie]

EROAD Limited (NZX/ASX: ERD) today announces the opening of its NZ$16.1m
non-underwritten share purchase plan ("SPP"). The SPP is part of EROAD's
capital raising to partially fund the proposed acquisition of Coretex Limited
announced on 14 July 2021.

EROAD is seeking to raise NZ$16.1 million through the SPP (with the ability
to accept oversubscriptions at its discretion), in addition to its NZ$64.4
million conditional placement.

Under the SPP, EROAD offers eligible shareholders with an address in New
Zealand or Australia (at 5p.m. on 13 July 2021) the opportunity to apply for
up to A$30,000 / NZ$32,000 of new shares ("Shares") without incurring any
brokerage or other transaction costs. The new Shares will be issued at the
lower of the placement price (NZ$5.58 per new share), and the five day volume
weighted average price of EROAD shares traded on the NZX Main Board during
the five trading days up to, and including, the closing date of 3 August
2021.

Hi all. Came across this . Looks like a discount offer?

[Charlie]

sorry about the repeat post , new to this , I was using my phone and it seemed to not send but did :-)
SP seems to have stayed up.. Usually drops a bit towards offer ? Their plans seem good , and it seems to be expanding nicely . With covid , and more people buying on line and less going to the shops, I suspect transport sector will grow...?

[Wyoming]

Attended the Eroad AGM and the ensuing vote on the offer.
I felt they were clear on where they were going and the reasons for acquiring Coretex and could see where good expansion would follow if the merger/takeover goes reasonably smoothly.
Eroad would gain a wider customer base who would already be using an Eroad (formerly Coretex) product and this new base is largely in the very important US market.
Clear that they were focusing on the NZ, Aust and US markets rather than spreading their efforts too far. I thought that a wise strategy.
Would like to see the results in 12 months time but I am comfortable taking up the offer.

[nztx]

Attended the Eroad AGM and the ensuing vote on the offer.
I felt they were clear on where they were going and the reasons for acquiring Coretex and could see where good expansion would follow if the merger/takeover goes reasonably smoothly.
Eroad would gain a wider customer base who would already be using an Eroad (formerly Coretex) product and this new base is largely in the very important US market.
Clear that they were focusing on the NZ, Aust and US markets rather than spreading their efforts too far. I thought that a wise strategy.
Would like to see the results in 12 months time but I am comfortable taking up the offer.

Thanks for the update - Wyoming

[Jaa]

SPP closed well oversubscribed, unsurprisingly for such a deeply discounted capital raise.

Why oh why don't companies like the comply with best practice and do accelerated tradeable rights issues. Crazy idea I know, but maybe advisors have a vested interest in providing a nice opportunity for institutional investors.

[theace]

Computershare showing allotment. Hopefully get refunded promptly, as well scaled down.

[STr]

Whats going on with the SP slow decline over the last week - lost most of the gains since SPP

[BlackPeter]

Whats going on with the SP slow decline over the last week - lost most of the gains since SPP

Hype deflation?

ERD clearly not driven by fundamentals.

But hey - while the SP crashed through the MA100 it is still above MA200 , which is (still) comforting. Lets hope it stays this way, shall we?

[Rawz]

Trading at 5x sales? Pretty expensive. But how does one value these type of stocks.. glh's