BetMakers Technology Group has raised US$13.7m through a share purchase plan and an institutional placement, with the proceeds going towards paying debts and fuelling US expansion.
The share purchase plan aimed to raise up to $1m but was oversubscribed, with applications eventually totalling $1.2m.
BetMakers is therefore issuing 12 million shares at $0.10 each, which began trading today, Wednesday, July 9.
The $1.2m raised through the share purchase plan has been added to the $12.5m institutional placement BetMakers announced in June.
Together, the $13.7m will go towards repaying all outstanding debt and funding content and access agreements, including the $800,000 acquisition of Las Vegas Dissemination Company, the only provider of pari-mutuel wagering services in Nevada.
