- BetMakers Technology Group (BET) has received firm commitments to raise $50 million through a placement to fund the acquisition of Sportech
- A total of 83.3 million shares will issued at 60 cents each – representing a 9.1 percent discount to the last closing price of 66 cents
- In addition, the online betting company hopes to raise a further $10 million through a share purchase plan
- The money raised will support the $56.2 million buy of fellow sports betting company, Sportech
- However, before the placement can completed, Sportech’s shareholders will need to approve the acquisition
- Company shares are up 10.5 percent and are trading at 74 cents each
