It's worse than that. They actually rejected the $1.30 offer less than 2 months ago, and wouldn't even grant due diligence, because it "materially undervalued the company". And now they are raising money at 70c.
The board obviously must think that 70c is a truly massive undervaluation. But hey, as long as they don't get taken over and continue to collect director's fees, who cares?
Ann: EROAD announces NZ$50 million Equity Raise, page-3
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Last
$1.21 |
Change
-0.040(3.20%) |
Mkt cap ! $226.3M | |||
| Open | High | Low | Value | Volume |
| $1.21 | $1.26 | $1.19 | $82.73K | 67.20K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 450 | $1.18 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.30 | 450 | 1 |
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| Last trade - 15.53pm 25/07/2024 (20 minute delay) ? |
| ERD (ASX) Chart |