BetMakers has achieved a substantial victory with its Stock Purchase Plan (SPP), securing a significant AUD$26.3 million (approximately US$20.4 million). This figure considerably surpasses their initial target!
Their initial aspiration was around AUD$10 million, enabling eligible investors to acquire up to 30,000 new shares each at a reduced cost of AUD$0.60 per share. However, the response was remarkable, with a deluge of applications amounting to AUD$26.3 million.
This capital infusion will bolster BetMakers’ international expansion strategies, encompassing a major purchase of Sportech’s totalizator and digital holdings. This transaction, recently endorsed by Sportech stakeholders, will witness BetMakers assuming control of Sportech’s worldwide totalizator and digital enterprises for a sum of £30.9 million (roughly US$42.2 million).
With the fresh capital secured and the Sportech acquisition in progress, BetMakers is poised for substantial expansion in 2021 and beyond.
Vendors also indicated that opting for a reduced share allocation aimed to provide dedicated individual backers of BetMakers an enhanced opportunity to acquire stock. They further sought to convey appreciation for the support received from prominent institutional stakeholders.
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