- SportsHero (SHO) has received binding commitments to raise $1.5 million to fund its next stage of growth in Indonesia
- The company intends to issue 50 million fully paid ordinary shares at 3 cents each, along with 25 million free attaching options
- Each option will exercisable at five cents per share until December 16, 2022
- The proceeds will fund product and feature enhancements for the company’s Olahbola app, marketing and user acquisition and the expansion of content and sales teams
- Earlier this week, the Olahbola app reached more than 2.7 million unique users following a month of record growth
- SportsHero is up 2.94 per cent to 3.5 cents per share
