Canaccord Genuity Acted as Joint Lead Manager to EROAD on its NZ$50 million Institutional Placement and Accelerated Renounceable Entitlement Offer

Canaccord Genuity has helped raise NZ$50m for EROAD (ASX:ERD, NZX:ERD). EROAD generates ~$160m in revenues globally with around half from North America and half from NZ/Australia. It provides fleet management hardware, software and solutions to improve safety, and profitability for trucks and assets. The company is NZ-based and dual listed on the ASX & NZX.

The funds raised are to reduce debt and provide headroom to accelerate growth, especially in North America.

The CG team is delighted to have been able to assist EROAD again following the NZ$50m dual-listing onto the ASX in 2020 and also the NZ$64m capital raise in 2021 for the acquisition of Coretex.