PointsBet (ASX:PBH) raises $81 mil via entitlement offer

Company News

by Lauren Evans

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. 

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