PointsBet secures investment from SIG Sports

PointsBet has secured an AU$94

PointsBet has secured an AU$94.2m (US$65.6m) investment funds from SIG Sports Investment Corp. (SIG Sports), a member of the Susquehanna International Group of Companies.

In accordance of rights with the terms of a subscription agreement, the manipulator will issuing 38,750,000 shares to SIG Sports at a damage of A$2.43 per share, representing a 15% insurance premium compared to the 5-day intensity weighted ordinary damage to 17 June 2022.

The unexampled shares, which testament follow issued under PointsBet’s existing location capacity, are expected to follow quoted on or around 23 June 2022. Upon issuance, the investiture will interpret 12.8% of the operator’s issuance capital, with SIG Sports comme il faut its largest shareholder.

“After several years of exhaustively evaluating the North American sports betting securities industry for the rightfulness partner, SIG Sports is proud of(p) to feature made what we count to live a long-term investment funds inward PointsBet,” said SIG Co-founder and Managing Director Jeff Yass.

“We get been following their journey for some time and get highly-developed a very confirming consider of the boilers suit business organisation operations and the potentiality of the PointsBet leadership team. We believe PointsBet has great potency for future tense maturation and success inwards the North American sports betting marketplace and SIG has both the analytics and uppercase to help realise that potential.”

There will live no alteration to the operator’s board as a outcome of the equity placement, patch notifications will be provided to PointsBet’s gaming regulators as required.

PointsBet Chairman Brett Alan Stewart Paton commented: “We are delighted to brace upwardly with a visionary investor which has committed ongoing financial support and is eminently qualified inwards analytical trading inward financial markets, and now inwards sports.

“The ethnical alignment between both organisations is strong, and this investment funds will assist with expanding and growing our Second Earl of Guilford American operations as we seek to lead story inwards in-play betting and enhancing the overall client experience.”

PointsBet added that its whole owned subsidiary PointsBet Europe Holdings Limited, formerly Banach Technology Limited, has entered into an explorative agreement with Nellie Analytics, a fellow member of SIG, inwards which Nellie Analytics testament supply agreed sole(a) sports analytical services to the grouping at nil be for a period of nine months.