BlueBet Holdings completed a $20 million fully underwritten placement linked to its merger with NTD's wagering business, betr, creating an entity called the Combined Business.
The oversubscribed placement, backed by institutional and sophisticated investors, supports BlueBet's growth initiatives and promotional campaigns for upcoming racing and sports finals.
The equity raise comprises two tranches, with the first not requiring shareholder approval and the second pending an extraordinary general meeting approval.
With the funds raised and the anticipated merger completion by July 1, BlueBet aims to bolster its scale and profitability.