Macquarie, Canaccord launch $70m Nearmap deal Share via Email...

Macquarie, Canaccord launch $70m Nearmap deal

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Street Talk. Nearmap

• by
  
• Sarah Thompson
  
• Anthony Macdonald

Aerial mapping company Nearmap is in front of fund managers seeking a $70 million equity injection.
The company's brokers Macquarie Capital and Canaccord Genuity launched the offer on Thursday morning, sending terms to fund managers.
The brokers were offering 43.75 million new shares at $1.60 each, which was an 11.1 per cent discount to the last close.
Funds raised were pegged for sales and marketing activities and to help fund Nearmap's international expansion.

Nearmap shares went into a trading halt on Thursday morning. The brokers were calling for bids by 3pm on Thursday.
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NEARMAP FPO (NEA)

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The deal was underwritten.
Nearmap had a $713 million market capitalisation prior to the offer