Eroad’s 18.7% shareholder Volaris questions cap raise rationale
Volaris made an unsuccessful bid at $1.30. New shares under capital raise will be issued at 70 cents.
Eroad is seeking capital from investors.
Eroad bidder Volaris has questioned the validity and pricing of the trucking telematics company’s just-announced $50 million capital raising, saying there was no indication at its recent annual meeting that it had an urgent need to pay down debt.
In late June, Volaris disclosed it had bought up
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