CSE Global is proposing to undertake a renounceable non-underwritten rights issue. This means the rights can be traded or sold on the stock exchange. CSE Global will issue 1 rights share for every 5 ordinary shares at $0.33, thus issuing 102.5 million shares to raise $33.8 million (net proceed of $33.4 million). The company intends to utilise 90% of the proceeds or $30 million for potential acquisitions of synergistic businesses in New Zealand and the USA and retain the remaining 10% or $3.4 million to pare down debts. The issue price of $0.33 for the rights is a 20.5% discount to the last transacted price of $0.415 and 17.7% discount to the theoretical ex-rights price (TERP) of $0.401. Although the rights issue is not underwritten, to demonstrate their commitment and confidence, the Chairman and CEO have provided an undertaking to subscribe for their rights entitlements in full. This amounts to 0.63% and 2.57% of shares respectively. Expected timeline of events As the rights issue is within the general mandate previously sought by the company, there...