BetMakers Technology Group Ltd (ASX:BET) Completes Placement
Share Placement Details
BetMakers Technology Group Limited (ASX:BET) has completed the issue and allotment of 115,000,000 fully paid ordinary shares, raising A$11.5 million at A$0.10 per share from sophisticated and institutional investors. Additionally, Tekkorp Holdings LLC has subscribed for 10,000,000 shares, pending shareholder approval.
Use of Funds
The funds from the placement will be used to repay all outstanding debt, fund content and access agreements including payments related to New Jersey Fixed Odds, potentially acquire Las Vegas Dissemination Company, and improve financial flexibility and working capital.
Future Share Purchase Plan
BetMakers Technology will launch a share purchase plan to raise up to A$1,000,000 from eligible shareholders, with the offer booklet dispatching on 17 June 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 positions in and has recommended Betmakers Technology Group. 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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