BetMakers Launches AU$12.5 million Institutional Placement to Fund Growth and Strategic Moves

Highlights:

• BetMakers Technology Group Ltd (ASX: BET) is raising A$12.5 million through an institutional placement at A$0.10 per share, with an additional A$1 million targeted via a Share Purchase Plan (SPP).
• Proceeds will be used to repay debt, fund strategic growth, and support a potential acquisition of Las Vegas Dissemination Company (LVDC).
• Tekkorp Holdings LLC, linked to company President Matt Davey, has committed up to A$1 million in the placement, subject to shareholder approval.

BetMakers Technology Group Ltd (ASX: BET) has announced a capital raising initiative to secure approximately A$12.5 million through an institutional placement, with plans to raise an additional A$1 million via a Share Purchase Plan (SPP) offered to existing eligible shareholders. At the time of writing, the placement price stands at A$0.10 per share.

Strong Support from Institutional Investors

The institutional placement has received firm commitments from sophisticated and professional investors. Notably, Tekkorp Holdings LLC, an entity associated with the company’s President Matt Davey, has pledged up to A$1 million, subject to shareholder approval. The placement involves issuing 125 million new shares at a 4.8% discount to the last traded price and a 9.9% discount to the 10-day VWAP. The shares will rank equally with existing ones and are expected to settle on 11 June 2025.

SPP Offers More Access to Retail Investors

Alongside the placement, BetMakers will offer eligible shareholders the chance to participate in a non-underwritten Share Purchase Plan to raise up to A$1 million. Shareholders on record as of 4 June 2025 can apply for up to A$30,000 worth of shares at the same issue price of A$0.10 without incurring brokerage fees. The SPP opens on 17 June 2025 and closes on 1 July 2025.

Use of Funds and Strategic Vision

Proceeds from the capital raise will be used to repay debt, support growth initiatives, and potentially fund the acquisition of Las Vegas Dissemination Company (LVDC), the only licensed provider of pari-mutuel wagering services in Nevada. The funds will also enhance BetMakers’ working capital and balance sheet flexibility. CEO Jake Henson expressed confidence in the company’s growth prospects, stating the raise will empower BetMakers to pursue both organic and strategic opportunities.

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