BetMakers Technology Group (ASX:BET) has successfully completed a placement, raising A$11.5 million (before costs) through the issue of 115,000,000 fully paid ordinary shares at A$0.10 per share. These shares were allocated to unrelated sophisticated and institutional investors. An additional 10,000,000 shares subscribed for by Tekkorp Holdings LLC, totaling $1,000,000, remains subject to shareholder approval. The placement was executed without disclosure under Part 6D.2 of the Corporations Act 2001 (Cth) and utilized the company’s placement capacity under ASX Listing Rule 7.1.
The funds raised will be strategically allocated to several key areas. Firstly, all outstanding debt will be repaid, improving the company’s financial health. Secondly, the capital will fund content and access agreements, specifically payments related to New Jersey Fixed Odds, enhancing BetMakers’ offerings in this market. A significant portion is earmarked for the potential strategic acquisition of Las Vegas Dissemination Company, the sole provider of pari-mutuel wagering services in Nevada, potentially expanding BetMakers’ presence in the US market. Finally, the funds will improve overall financial flexibility and bolster working capital.
In addition to the placement, BetMakers will launch a share purchase plan (SPP) to raise up to an additional $1,000,000 (before costs) from eligible shareholders as of 7:00 pm AEST on June 4, 2025. The SPP offer booklet is expected to be dispatched, and the SPP opened on June 17, 2025. The company has confirmed compliance with Chapter 2M and sections 674 and 674A of the Act and assures that all relevant information has been disclosed, ensuring shareholders have the information required to make informed decisions.
