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PointsBet set to raise AUD$303m to support US expansion

2nd September 2020 1:59 pm GMT

Australian and US sports betting operator PointsBet Holdings is looking to raise approximately AUD$303m through a new capital raising to support its long-term strategy.

The capital raising comprises a fully underwritten accelerated pro rate renounceable entitlement offer with retail rights trading to raise $153.2m at $6.50 per share, as well as an institutional placement to raise $150m.

PointsBet will utilise the funds raised to support its US marketing costs, predominantly related to client acquisition and retention, technology [...]

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