Pointsbet raises US$53m from retail entitlement

The Australian online betting operator aims to raise US$108 million through its latest entitlement offer. 

Australia.- Online betting company Pointsbet has raised AU$76 million (US$53.5 million) from the retail part of its latest entitlement offer. 

The retail component was fully underwritten. Over 92 per cent of eligible shareholders participated and subscribed for approximately 11.7 million new PointsBet shares.

Now, about 1 million retail entitlements not taken up by those eligible retail shareholders will be offered for sale in a retail shortfall bookbuild. The results will be announced today (September 25).

The institutional component of the entitlement offer was completed on September 15 and raised AU$70.5 million (US$49.6 million).  

The Australian operator’s goal is to raise gross proceeds of AU$153.2 million (US$108 million).