Betr Entertainment Limited (ASX:BBT) Completes $130M Equity Raising
Equity Raising Completion
Betr Entertainment Limited has successfully completed the retail component of its fully underwritten $130.0 million equity raising. The retail entitlement offer raised approximately $15.6 million, while the institutional placement and institutional entitlement offer raised ~$53.5 million and ~$60.9 million respectively.
Use of Proceeds
The proceeds from the equity raising will partially fund the acquisition of PointsBet Holdings Limited, including Betr’s 19.9% pre-bid stake in PointsBet.
Subscription and Allotment
The Retail Entitlement Offer closed on 20 May 2025 with applications from eligible retail shareholders for around 7.0 million shares, achieving a 14.4% participation rate. Remaining shares will be allocated to sub underwriters, with new shares expected to trade from 28 May 2025.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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