Electric bus company TrueGreen, which dazzled investors with its pre-IPO pitch of $1 billion revenue by FY25 just two years ago, has gone to investors for a shot in the arm while also trying to resurrect its parked IPO.
TrueGreen Group, which includes brands that distribute, manufacture and assemble zero-emissions buses, is understood to be negotiating a deal to extend its existing convertible notes worth $110 million, and pick up additional capital to help fulfil contracts and pick up a potential acquisition.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
