Saturday, January 23, 2021

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BetMakers: Raises $50M to fund Sportech buy

  • 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

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