Jun 03, 2023

Small caps Credit Clear, Entyr, Terra Uranium rattle the tin

Listed debt collection software business Credit Clear and waste tyre processing outfit Entyr had their brokers drumming up interest in equity raisings on Monday morning.

Street Talk. Jim Rice

Clean conversion technology company Entyr was seeking $7 million via a two-tranche institutional placement and another $3 million via a share purchase plan, according to a term sheet seen by Street Talk.

The offer was priced at 1.7¢ a share, a 10.5 per cent discount to the last close.

Potential backers were told Entyr reported a 127 per cent jump in revenue for the nine months to 31 March, driven by higher in-bound tyre volumes and pricing.

It would use the proceeds for "achieving full operation capacity" for its Stapylton facility and press on the company's "expansion planning".

Bell Potter, Canaccord Genuity and Morgans were the joint lead managers and called for bids into Entyr's placement by 2pm on Tuesday.

Also pitching to investors was receivables management technology business Credit Clear. It was chasing $8.5 million to fund integration of contract wins and to coax more business out of its pipeline.

Joint lead managers Bell Potter and E&P Corporate Advisory split the raising into a two-tranche institutional placement, priced at 23¢ a share. Final bids were due today at 3pm.

The company signed 89 new clients in the third quarter including IAG and TAFE NSW. It posted 41 per cent revenue growth to $8.6 million, and $200,000 underlying operational EBITDA.

Finally, Peak Asset Management was building support for Terra Uranium, trying to bring in $2.2 million for the Canadian explorer at 20¢ a share.

Resource funds Tribeca and Terra Capital, Tristar, Melbourne's Liberman family and Peak had cornerstoned the micro-cap's raise. Funds used will be to drill at its Pasfield and Parker targets.

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