PointsBet Holdings Limited (PBH) is raising is $122.1m in a 1 for 6 pro rata accelerated renounceable entitlement offer.

The offer is at a price of $3.20 per New Share with the Entitlement Offer closes at 5.00pm (Melbourne time) on Thursday, 19 November 2019.

PointsBet is a corporate bookmaker with operations in Australia and the United States. PointsBet has developed a scalable cloud-based wagering Platform through which it offers its Clients innovative sports and racing wagering products. PointsBet’s product offering includes Fixed Odds Sports, Fixed Odds Racing and PointsBetting. PointsBet aims to provide more markets on the major sports than any other bookmaker.

Proceeds from the Entitlement Offer and Placement will provide PointsBet with sufficient capital to expand into new markets, in particular the emerging sports wagering market in the United States and continue to invest in developing the PointsBet’s sports wagering platform.

The Entitlement Offer is fully underwritten by Bell Potter Securities Limited with more information here https://pointsbet.com.au/.