BetMakers, an Australian wagering tech firm, has secured a remarkable $26.3 million AUD (approximately $20.4 million USD) via a stock purchase program, significantly surpassing their original target.
Their initial objective was $10 million AUD, enabling qualified investors to acquire up to 30,000 new shares at a reduced rate of $0.60 per share. The interest was so substantial that they opted to increase the limit, ultimately distributing shares at the same cost to satisfy the demand.
This capital infusion will support BetMakers’ international growth strategies, including their latest purchase of Sportech’s totalizator and digital holdings for a considerable £309 million (equivalent to $422 million USD!).
Todd Buckingham, Chief Executive Officer and Managing Director of BetMakers, expressed enthusiasm about the future, proclaiming the company is now a “genuinely global supplier” within the wagering sector. With their focus on sustained expansion and advancement, it appears BetMakers is a business to observe in 2021 and beyond.
Vendors also indicated that opting for a reduced offering scale was intended to provide BetMakers’ established individual investors a greater opportunity to expand their ownership in the firm. This strategy also recognizes the dedication of non-institutional investors who possess a substantial quantity of stock.