Online bookmaker PointsBet has cleared its Institutional Entitlement Offer Shortfall Bookbuild at $12.50 per share.
The book build closed on Tuesday at 3pm, with 4.8m shares on offer.
It attracted strong demand from existing shareholders and other sophisticated investors, according to a term sheet sent to fund managers.
The price Online bookmaker PointsBet represents a premium of $6 to the entitlement offer price of $6.50 per share.
It comes after PointsBet Holdings last week announced a $303m equity raising through Bell Potter, MST Financial and Moelis out of the United States.
The raise includes a fully underwritten 1 for 6.5 accelerated pro rata renounceable entitlement offer to secure $153.2m at $6.50 per share.
Eligible shareholders were to receive one new option for every 2 shares issued under the Entitlement Offer, exercisable at $13.00 and expiring on 30 September 2022.
The group also raised $200m through a placement at $11 per share, strongly supported by Australian and international existing and new shareholders, taking the total proceeds from the placement and entitlement offer to $353m.
Before the raising, PointsBet shares had closed at $13.69.
The proceeds were to be used for marketing and business development.
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