Better Collective raises SEK 1 5bn amid unprecedented US affiliate market opportunity

Better Collective has announced the closing of a directed share issue of 6

Better Collective has announced the closure of a directed divvy up come out of 6.9 zillion shares, apiece at a terms of SEK 218 ($26.23) per share.

The closure will cater the affiliate with SEK 1.5bn before dealing costs. The companion says the dealing was “significantly oversubscribed” due to luxuriously demand from institutional investors.

The subscription damage was in agreement(p) through and through an accelerated book-building physical process and according to Better Collective’s gameboard of directors, the toll is inward accordance of rights with marketplace conditions.

Better Collective says this dealings is expected to chip in to an increased unloose drift and liquidity in the company’s share.

It will reckon a dilution of around 12.8% of the number of shares and votes inwards the troupe and increase the keep down of shares and votes from 46,984,072 to 53,864,806.

Investors that make subscribed shares inward this dealing testament receive their shares on May 31, 2021; to aid drive home these shares, J. Søgaard Holding ApS and Chr. Dam Holding ApS have got provided Nordea Corporate Finance & ECM with just over threesome billion shares.

Better Collective Co-founder and CEO, Jesper Søgaard, said: “I am pleased to ascertain the luxuriously raze of financial support of our troupe from both existing as well as new shareholders.

"We are really excited about the transaction and the market’s openness of the acquisition of Action Network Inc., which underpins our strategy to capitalise on the unprecedented market place chance in the US within sports betting affiliation.

"With the proceeds from this transaction, we maintain a flexile working capital structure in prescribe to be able to human action on time to come strategic opportunities.”