Online wagering platform PointsBet
(ASX:BHP) has completed its institutional entitlement offer, raising $81 million at $8.00 per share. The deal was supported by sophisticated and institutional investors.
The offer closed on 2 Aug 2021 with 78 per cent of eligible entitlements taken up by existing shareholders. The final clearing price under the shortfall bookbuild was $10.00 per share, which represents a premium of 25 per cent to the offer price of $8.00.
Approximately 10 million new shares will be issued under the offer, expected to occur on 11 Aug 2021.
Shares in PointsBet
(ASX:PBH) are trading 12.4 per cent lower at $9.89.
