PointsBet (ASX:PBH) completes $215.1mil placement

Company News

by Lauren Evans

Online wagering platform PointsBet (ASX:PBH), successfully completed a $215.1 million placement, supported by institutional investors.

The placement includes a total 21,506,682 new shares at $10.00 per share, representing an 11.4 per cent discount from the closing price on 28 Jul 2021. The placement is expected to occur on 5 Aug 2021.

Shares issued via the placement will be ranked equally with all existing shares from the date of issue. Proceeds from the placement and the company's previous entitlement offer will together raise approximately $400 million.

PointsBet's managing director and CEO Sam Swanell said, "we see the success of the placement element of our offer as a clear endorsement of PointsBet's long term strategy."

Shares in PointsBet (ASX:PBH) were placed on a trading halt yesterday and were last traded at $11.29.

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