Environmental data management software company Envirosuite was cap in hand in front of funds on Wednesday as it seeks fresh equity to fund an acquisition.
Envirosuite was fronting funds on Wednesday, as it sought fresh equity. AFR
Street Talk understands Envirosuite was seeking $70 million via an underwritten placement, $5 million via a company managed placement and up to $10 million through a share purchase plan.
The fresh equity would be used to fund the acquisition of EMS Bruel and Kjaer Holdings, an Australian-based environmental noise and vibration monitoring company.
The underwritten placement was priced at 20¢, according to terms sent to funds. Envirosuite last closed at 26¢.
It is understood Bell Potter was lead manager and underwriter on the raise and bids were due by 4pm on Wednesday.
Environmental data management software company Envirosuite was...
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