Corporate bookmaker Betr, once backed by News Corp but now an ASX-listed operator, is raising at least $15 million to bankroll an acquisition of TopSport.
Street Talk can reveal Betr is raising $15 million in an institutional placement priced at 34¢ a share to fund the acquisition. Of note, the offer price is a 3 per cent premium to Betr’s last close. The company currently trades as BlueBet Holdings on the ASX but is set to be rebranded to Betr.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
