On 1 December 2020 BetMakers announced it had entered into binding agreements to acquire Sportech PLC's Racing and Digital assets ('Sportech') for a consideration of GBP 30.9 million. The transaction completed on 17 June 2021.
To support the funding of the Sportech asset acquisition, on 2 December 2020 BetMakers announced it had received firm commitments to raise $50,000,000 (before costs) under a placement via the issue of approximately 83.3 million new fully paid ordinary shares at an offer price of $0.60.
In addition to the above, the company announced the launch of a $10,000,000 Share Purchase Plan to existing eligible investors, to issue new fully paid ordinary shares at an offer price of $0.60. This offer closed on 15 January 2021 and was oversubscribed.
On 17 February 2021, the company announced that it had entered into an exclusive agreement with Mr Matt Tripp to become a strategic advisor. In addition to this, Mr Tripp also agreed to subscribe for $25,000,000 of new ordinary shares in the company at an issue price of $0.70 per share. The company also received firm commitments of $50,000,000 from several existing shareholders, also at an issue price of $0.70 per ordinary share.
On 23 June 2021, the company acquired the technology platform assets, databases and intellectual property of racing data company Form Cruncher Pty Ltd. In consideration for these assets, the company agreed an initial payment of $1,000,000 and a performance payment of up to $1,000,000.
On 23 June 2021, the company acquired the technology and intellectual property associated with Swopstakes betting product. In consideration for these assets, the company agreed an initial payment of $634,750 and a performance payment of up to $15,000,000.
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About Betmakers Technology Group Ltd
Betmakers Technology Group Ltd (ASX:BET) (FRA:T07) is an ASX-listed holding company and a global provider of online wagering products and services to both wholesale and retail markets through its various wholly owned subsidiaries. The Company operates a retail wagering business, offering consumers wagering, fantasy tournament and content products and services.
Betmakers Technology Group Ltd