Bells, Peleton rattle tin for DroneShield; Euroz for 88 Energy

DroneShield stock went into a trading halt in pre-market open, as the brokers launched a raising worth $9 million to $11 million.

New shares were for sale at 30¢ each, according to terms sent to fund managers, or an 18.9 per cent discount to the last close.Funds raised would be used to build inventory and increase its engineering and sales teams .The brokers were calling for bids on Thursday. The stock would resume trading on Monday, the term sheet said. The deal would value the company at $146.3 million on a post-completion market capitalisation basis.

The broker was offering up to 1.26 billion new shares at 0.95¢ each, which was a 20.8 per cent discount to the last close. Proceeds would be used for drilling costs at its planned Hickory-1 well and flow testing. The broker was calling for bids by 2pm Perth-time on Thursday. co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.

Source: News Formal (newsformal.com)

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