SIG Sports Investments has taken a 14.6 per cent equity stake in the $570m Australian listed betting company PointsBet.
SIG Sports is a member of the Susquehanna International Group of Companies (SIG).
US-based SIG is one of the largest proprietary financial trading firms in the world.
The company has purchased 38.75m shares at $2.43 each, worth $94.16m.
The price is a 15 per cent premium to the volume weighted average price to June 17.
PointsBet Europe and Nellie Analytics, which is a member of SIG, have also entered into an agreement to scope and develop terms for Nellie Analytics to provide sports analytics and quantitative modelling services to complement PointsBet’s existing capabilities and accelerate its technology road map.
It comes as PointsBet announces a pro-rata deferred bonus equity option (“DBEO”) for eligible shareholders, providing the ability for the Company to raise up to about $150m over the next two years.
PointsBet said the DBEO instrument provides the company with flexibility to access future capital as needed while ensuring existing, loyal shareholders who have supported the company, can participate in an equitable way.
Three on tenterhooks for Anglo’s $US2bn coal assets
Suitors vying to buy Anglo American’s steelmaking coal assets will face an anxious wait after Wednesday when final bids for the portfolio are due.
European interest in Cairns airport parent company
Amsterdam Airport owner The Schiphol Group and France-based investor Vinci are believed to be lining up for Cairns airport owner North Queensland Airports Group.